Holy See Signs Memorandum of Understanding With U.S. to Combat Money Laundering

Financial Intelligence Authority Committed to Bi-lateral Cooperation

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The Financial Intelligence Authority of the Holy See and Vatican City State (AIF), signed a Memorandum of Understanding today in Washington, D.C., with the Financial Crimes Enforcement Network (FinCEN), its U.S. counterpart at the U.S. Department of Treasury. The signing of the memorandum is meant to strengthen its efforts to fight money laundering and terrorism financing globally.

The Memorandum was signed by René Brülhart, Director of the AIF, and Jennifer Shasky Calvery, director of FinCEN, and will foster bi-lateral cooperation in the exchange of financial information.

“This is a clear indication the Holy See and the Vatican City State take international responsibilities to combat money laundering and the financing of terrorism very seriously, and that we are cooperating at the highest levels,” Brülhart said. “The Vatican has shown that it is a credible partner internationally and has made a clear commitment in the exchange of information in this fight,”

According to a communique released by the Holy See, the AIF is currently in discussion with more than 20 other Financial Intelligence Units around the world in an effort to strengthen bilateral cooperation in fighting money laundering and terrorism financing. As of now, the AIF has signed Memorandums of Understanding with Belgium, Spain and Slovenia. Several more memorandums are expected to be signed throughout the year.

“AIF was established in 2010 and became operational in April 2011. It is the competent authority of the Holy See and Vatican City State for financial intelligence and for supervision and regulation in the prevention and countering of money laundering and financing of terrorism,” the communique stated.

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