At 12:00 noon today in the John Paul II Hall at the Vatican`s Press Office, there was a press conference held, the object of which was the presentation of the first Annual Report (for the year ended December 31, 2012) of the Vatican`s newly-established Financial Information Authority (AIF). The report outlined the activity of financial information and steps which have been taken to ensure appropriate vigilence toward the prevention of and combat against money laundering and the financing of terrorism.
Doctor René Brülhart, Director of the Vatican Financial Information Authority presented the report.
The Autorità di Informazione Finanziara (AIF) of the Holy See and the Vatican City State has published and presented its first ever Annual Report to the public. The report reviews the activities and statistics of the AIF for the full year 2012.
Over the course of the year, AIF reported the submission of 6 Suspicious Transaction Reports, up from only one in the previous year. AIF itself forwarded two Suspicious Transaction Reports to the Vatican Promoter of Justice for further investigation.
The statistics and trends from 2012 are encouraging and indicates that the system is consistently improving, said Rene Brülhart, Director of AIF. In 2012, AIF has also initiated the systematic screening and analysis of Cash Transaction Reports submitted by the obliged entities. In our efforts to tackle actively any potential abuse of the financial system, we initiated a close and constructive interaction with the Secretariat of State, the Gendarmeria, the Promoter of Justice and the institutions under our oversight in order to improve awareness and safety and ensure a coordinated internal cooperation in AML/CFT matters, said Director Brülhart.
A further important element of the report is the progress made in international cooperation that builds on the clear commitment of the Holy See to be a credible partner in the international fight against money laundering. 2012 saw the signing of a Memorandum of Understanding with relevant authorities in Belgium and Spain. It will continue to be our policy in 2013 to further strengthening international cooperation by signing several more Memorandum of Understanding with our partners in other relevant countries and jurisdictions, said Rene Brülhart.
The outlook for 2013 foresees a further strengthening of the AML/CFT system including the implementation of Moneyval Recommendations through appropriate new or amended legislation and a continuation of the awareness enhancing process across all relevant authorities and institutions.
AIF is the competent authority of the Holy See and the Vatican City State for financial intelligence and for supervision and regulation in the prevention and countering of money laundering and financing of terrorism. AIF was established in 2010 (by means of a letter issued Motu Proprio by His Holiness, Benedict XVI) and became operational in April of 2011.
The full text of the AIF`s first Annual Report is available on the Vatican website.
Doctor René Brülhart, Director of the Vatican Financial Information Authority presented the report.
Communique on the Annual Report
of the Vatican Financial Information Authority
for the year ended December 31, 2012
The Autorità di Informazione Finanziara (AIF) of the Holy See and the Vatican City State has published and presented its first ever Annual Report to the public. The report reviews the activities and statistics of the AIF for the full year 2012.
Over the course of the year, AIF reported the submission of 6 Suspicious Transaction Reports, up from only one in the previous year. AIF itself forwarded two Suspicious Transaction Reports to the Vatican Promoter of Justice for further investigation.
The statistics and trends from 2012 are encouraging and indicates that the system is consistently improving, said Rene Brülhart, Director of AIF. In 2012, AIF has also initiated the systematic screening and analysis of Cash Transaction Reports submitted by the obliged entities. In our efforts to tackle actively any potential abuse of the financial system, we initiated a close and constructive interaction with the Secretariat of State, the Gendarmeria, the Promoter of Justice and the institutions under our oversight in order to improve awareness and safety and ensure a coordinated internal cooperation in AML/CFT matters, said Director Brülhart.
A further important element of the report is the progress made in international cooperation that builds on the clear commitment of the Holy See to be a credible partner in the international fight against money laundering. 2012 saw the signing of a Memorandum of Understanding with relevant authorities in Belgium and Spain. It will continue to be our policy in 2013 to further strengthening international cooperation by signing several more Memorandum of Understanding with our partners in other relevant countries and jurisdictions, said Rene Brülhart.
The outlook for 2013 foresees a further strengthening of the AML/CFT system including the implementation of Moneyval Recommendations through appropriate new or amended legislation and a continuation of the awareness enhancing process across all relevant authorities and institutions.
AIF is the competent authority of the Holy See and the Vatican City State for financial intelligence and for supervision and regulation in the prevention and countering of money laundering and financing of terrorism. AIF was established in 2010 (by means of a letter issued Motu Proprio by His Holiness, Benedict XVI) and became operational in April of 2011.
The full text of the AIF`s first Annual Report is available on the Vatican website.
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