Holy See bolsters financial transparency in Argentine agreement

Rene Bruelhart, director of the Vatican's Financial Information Authority, speaks at the Vatican Press Office, May 19, 2014. Credit: Daniel Ibanez/CNA.

The Vatican's financial watchdog signed a memorandum of understanding with its Argentine counterpart Tuesday, extending and bolstering its anti-money laundering reforms.

For the first time, the signing of such a memorandum took place within the Vatican. It was signed by the director of the Holy See's Financial Information Authority, Rene Bruelhart, and the president of Argentina's Unidad de Informacion Financera, Jose Sbattella, in Palazzo San Carlo, the AIF's headquarters.

“We are very pleased to have signed this memorandum of understanding with Argentina today,” Bruelhart stated June 24. “This is an important step to further expand the network to support global efforts to fight money laundering and the financing of terrorism.”

“We are looking forward to fruitful cooperation with Argentina, which will be beneficial to both parties.”

In the past two years, the AIF has signed such bilateral agreements with its counterparts in more than 30 countries.

During the Egmont Group global meeting, held June 1-6 in Lima, it made agreements with the U.K., France, Malta, Peru, Poland, and Romania. The Egmont Group gathers international financial information departments from across the world; the AIF joined the group last July.

Among the other prominent nations with which the AIF has signed agreements are the U.S., Germany, and Italy.

The memorandum of understanding signed with Argentina, according to a statement from the AIF, “is standard practice and formalizes the cooperation and exchange of financial information to fight money laundering and combat 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 … and contains clauses on reciprocity, permitted uses of information and confidentiality.”

The Holy See's commitment to financial transparency has been demonstrated by the AIF's continuing reform, begun after the 2012 Moneyval assessment, and following from the positive progress report it issued in December, 2013. It has rebuilt institutional and juridical structures for finances, bringing its policies in line with international anti-money laundering standards.

The AIF's ability to open and to strengthen cooperation with its foreign counterparts was enhanced with two reforms, undertaken in 2012 and 2013.

It's policies seem to show that the Holy See's agenda for combatting money laundering is based on the twin pillars of a strong internal structure and an enhanced international cooperation.


Voices

How to not be a 'beige Catholic,' according to Bishop Barron

Catholic News Agency

Catholics in America today need to find ways to engage the culture with truth, and avoid “beige Catholicism” that seeks to be dominated by the culture, Bishop Robert Barron said Thursday.

Events

June 2016
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30

June 26, 2016

  • Sunday, June 26

    St John Eudes Adult Choir annual 'Summer Concert Under the Stars', 6:30 p.m., St. John Eudes, 9901 Mason Ave., Chatsworth. Featuring The Rose Palmer Trio musicians. Theme: 'Neighbor to Neighbor' .  Please bring a picnic meal if you wish.  Tickets available at the door: Adults $10; Children 12 and under $5. For info please call Mary (818) 346-0927.

     

    Year of Mercy Mass in The Shrine of St. John Paul II, 3 p.m., Our Lady of the Bright Mount Church, 3424 W. Adams Blvd., Los Angeles.  Divine Mercy Chaplet and Mass celebrated in KOREAN with Fr. Robert Dae-je Choi, SJ, Pastor of St. Agnes Korean Catholic Church.  Adoration of the Blessed Sacrament and confession following Mass. Closing prayer will be a blessing and veneration of the first class relic of St. John Paul II. 

     

    “In the Garden”Art & Music Fair, 1 p.m.-5 p.m.,Mary & Joseph Retreat Center, 5300 Crest Road, Rancho Palo Verde. Local artists creating, displaying & selling work in gardens. The Taiko Effect Drummers, South Bay Coastliners Barbershop Chorus, South Bay Strummers ukelele band, Logan & Randall’s Folk Band. Ticket includes homemade strawberry shortcake, lemonade & iced tea. Reservations: Irma (310) 377-4867 ext 234. Cost: $10. Order box lunch a week ahead of the event for $12 each. Choices: Chicken Salad, Tri-tip or Vegetarian; includes Salad, Fruit, Chips, a Cookie & Water.

Get our news by email

Bob Smith BMW 300x250
Bob Smith Toyota 300x250
Bob Smith Mini 300x250