Vatican’s Financial Information Authority signs accord with Australian, Cypriot counterparts
Catholic World News - February 24, 2014
The Vatican’s Financial Information Authority (FIA) has signed a working agreement with its Australian and Cypriot counterparts, establishing formal procedures for cooperation in efforts to fight money-laundering and the financing of terrorist organizations.
The agreements with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and Cyprus’s Unit for Combating Money Laundering (MOKAS), cover 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 agreements “are strengthening FIA’s international reach and are a strong commitment of the Holy See and the Vatican City State to fight money laundering and the financing of terrorism proactively on a global level.”
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 ($25,821 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!