Vatican’s Financial Information Authority signs accord with German counterpart
Catholic World News - December 04, 2013
The Vatican’s Financial Information Authority (FIA) has signed a working agreement with its German counterpart, establishing formal procedures for cooperation in efforts to fight money-laundering and the financing of terrorist organizations.
The agreement with the Zentralstelle fur Verdachtsmeldungen at the Bundeskriminalamt (BKA) covers issues of exchanging information, preserving confidentiality, and reciprocity. It is based on a model agreement drafted by the Egmont Group, an international body for national financial authorities.
The FIA was established in 2010 to tighten controls on Vatican financial transfers and to restore confidence in the Vatican’s banking systems. Rene Bruelhart, the FIA director, said that the agreement with the German body “is strengthening FIA’s international reach and further integrates the Holy See and Vatican city-state with a coordinated global effort to fight money-laundering and the financing of terrorism.”
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 five million Truth-seeking readers worldwide this year. Thank you!
Progress toward our April expenses ($19,750 to go):
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!