Vatican's Financial Information Authority releases Annual Report

2013-05-22 Vatican Radio

(Vatican Radio) The Holy See Press Office on Wednesday hosted the launch of the Annual Report of the Financial Information Authority for 2012. The Director of the AIF,Rene Brülhart, highlighted the cooperation of various Vatican offices in tackling any potential abuse of the financial system.
Communique on the Annual Report of the Financial Information Authority, 2012

The Autorità di Informazione Finanziara (AIF) of the Holy See and the Vatican City State
has published and presented its first ever Annual Report to the public.
The report reviews the activities and statistics of AIF for full year 2012.
Over the course of the year, AIF reported the submission of 6 Suspicious Transaction
Reports, up from only one in the previous year. AIF itself forwarded two Suspicious Transaction
Reports to the Vatican Promoter of Justice for further investigation.
"The statistics and trends from 2012 are encouraging and indicates that the system is
consistently improving" said Rene Brülhart, Director of AIF.
In 2012, AIF has also initiated the systematic screening and analysis of Cash Transaction
Reports submitted by the obliged entities.
“In our efforts to tackle actively any potential abuse of the financial system, we initiated a
close and constructive interaction with the Secretariat of State, the Gendarmeria, the Promoter
of Justice and the institutions under our oversight in order to improve awareness and safety and
ensure a coordinated internal cooperation in AML/CFT matters”, said Director Brülhart.
A further important element of the report is the progress made in international cooperation
that builds on the clear commitment of the Holy See to be a credible partner in the international
fight against money laundering. 2012 saw the signing of a Memorandum of Understanding with
relevant authorities in Belgium and Spain. “It will continue to be our policy in 2013 to further
strengthening international cooperation by signing several more Memorandum of Understanding
with our partners in other relevant countries and jurisdictions” said Rene Brülhart.
The outlook for 2013 foresees a further strengthening of the AML/CFT system including the
implementation of Moneyval Recommendations through appropriate new or amended legislation
and a continuation of the awareness enhancing process across all relevant authorities and
institutions.
AIF is the competent authority of the Holy See and the Vatican City State for financial
intelligence and for supervision and regulation in the prevention and countering of money
laundering and financing of terrorism. AIF was established in 2010 and became operational in
April of 2011.