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Global Network against Finance Crime Accepts Vatican Agency

The Valley Catholic
August 27, 2013

http://www.valleycatholiconline.com/viewnews.php?newsid=4266&id=13

VATICAN CITY (CNS) — The Vatican’s financial oversight agency has joined the Egmont Group, an international network of financial information authorities, who cooperate to fight financial crime.

The Egmont Group “has admitted the Financial Intelligence Authority of the Holy See-Vatican City State as a full member” during a plenary meeting in South Africa, the Vatican said in a written press release July 3.

The Vatican had been in the process of entering the Egmont Group earlier this year as part of its efforts to create adequate measures for vigilance, prevention and fighting money laundering and financing terrorism.

The Egmont global network brings together more than 130 national

Financial Intelligence Units (FIUs) that collect and analyze information on suspicious or unusual financial activity, which may then be passed on to law enforcement officials.

“For the Holy See-Vatican City State, this marks a further step in its contribution to this global effort,” the Vatican statement said.

Rene Brulhart, the Swiss finance crime expert and lawyer who heads the Vatican’s oversight office, had been serving as vice-chair of the Egmont Group network when he was hired by the Vatican in September. He stepped down from that position when he joined the Vatican agency.

In the Vatican statement, Brulhart said the Vatican agency’s admission to the Egmont Group “represents a recognition of the Holy See-Vatican City State’s systematic efforts in tracking and fighting money laundering and financing of terrorism.”




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