Click here to advertise on CatholicCulture.org

Vatican financial authority joins world network of financial-intelligence agencies

Catholic World News - July 04, 2013

The Financial Information Authority (FIA) – a Vatican body established by Pope Benedict in 2010 to prevent money laundering and other illegal financial activities – has been admitted into the Egmont Group of Financial Intelligence Units.

The July 4 announcement that the FIA had been admitted to the international group was welcome news for Vatican financial managers, who have been battered in recent days by the resignation of the director of the Vatican bank and the arrest of another Vatican official charged with financial misconduct. The creation of the FIA was part of a determined effort-- begun under Pope Benedict XVI and accelerated by Pope Francis-- to restore confidence in the Vatican's financial institutions.

“The admission of FIA 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,” said FIA director René Brülhart. “Our admission to this global network will further improve our ability to contribute to the fight against financial crime.”

The Egmont Group was founded in 1995 to facilitate the international sharing of information to combat criminal financial activities. Membership in the Egmont Group is limited to central national agencies, over 130 of which have joined. The US Department of the Treasury’s Financial Crimes Enforcement Network is a member.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our July expenses ($15,467 to go):
$35,000.00 $19,533.29
44% 56%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Wanted: a balanced Catholic perspective on immigration 2 hours ago
Renewal with God before Us: Christ Determines All 18 hours ago
Sons of Dominic Prepare for Family Synod July 29
Dominican theologians assess proposals for divorced and remarried July 29
The ‘Pope Francis effect’—changing the way the world sees the papacy July 29

Top Catholic News

Most Important Stories of the Last 30 Days
New management, new changes coming for reformed Vatican bank CWN - July 8
Sweeping reforms to Vatican's media, financial operations CWN - July 9
‘Even Genghis Khan didn’t do this’: Mosul emptied of Christians CWN - July 21