New MOUs with Austrailia and Cypress

Yesterday, the Autorità di Informazione Finanziaria (AIF), the Financial Intelligence Unit of the Holy See and Vatican City State, signed a Memorandum of Understanding with its Australian counterpart, the Australian Transaction Reports and Analysis Centre (AUSTRAC). Earlier this week, on the margins of the Egmont Working Group meeting held in Budapest, a Memorandum of Understanding was also signed with the Financial Intelligence Unit of Cyprus, the Unit for Combating Money Laundering (MOKAS). These Memoranda were signed by Rene Bruelhart, Director of the AIF.

A Memorandum of Understanding is standard practice and formalizes the cooperation and exchange of financial information to fight money laundering and terrorist financing across borders between the competent authorities of both countries. It is based on the model Memorandum of Understanding prepared by the Egmont Group, the global organization of national Financial Intelligence Units, and contains clauses on reciprocity, permitted uses of information and confidentiality.

These Memoranda are strengthening AIF’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 pro-actively on a global level, said AIF Director Rene Bruelhart. Today’s signing underlines our fruitful relationship with our international counterparts and will further facilitate our joint efforts.

AIF became a member of the Egmont Group in July 2013. It has signed MOUs and cooperates with the Financial Intelligence Units of the United States, Belgium, Italy, Spain, Slovenia, the Netherlands and Germany. More MOUs are expected to be signed in the course of the coming weeks.

AIF is the competent authority of the Holy See/Vatican City State to fight money laundering and financing of terrorism. It was established in 2010.