We have $163,080 to go in our Fall Campaign. Every penny is used to strengthen the Church. See details!
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!

Our Fall Campaign
Progress toward our year-end goal ($163,080 to go):
$200,000.00 $36,919.72
82% 18%
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.

Fall Campaign
Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

A different tone at this Synod? 2 hours ago
Church Fathers: St. Clement of Alexandria, Part I 4 hours ago
Internalizing marriage at this year's synod 6 hours ago
Gay Vatican official who 'came out' may influence Synod in a way he didn't expect--or want 24 hours ago
Another serial killer? Blame 'religious rage.' October 5

Top Catholic News

Most Important Stories of the Last 30 Days
Pope issues new rules to streamline annulment process CWN - September 8
In Cuba, Pope emphasizes service to the vulnerable, praises thaw in US-Cuban relations CWN - September 21
Pope challenges America in speech to US Congress CWN - September 24
As Synod opens, Pope calls on Church to defend ‘unity and indissolubility’ of marriage bond CWN - October 5