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Catholic World News

Two appointments to Vatican financial authority

November 07, 2012

The Vatican has announced the appointment of two officials to the Financial Information Authority (IAF), the new board established last year to oversee Vatican financial affairs and ensure compliance with regulations against money laundering.

Francesco De Pasquale, an Italian banker who has been director of the IAF since June 2011, was named to the board of the institution, joining a 5-man group chaired by Cardinal Attilio Nicora.

De Pasquale will be replaced as director of the IAF by Rene Bruelhart, the Swiss expert who was hired in September as a consultant to the Vatican on banking security and safeguards against money laundering.


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