Loading
Vatican's financial intelligence unit nets suspicious activity
By Estefania Aguirre
Rene Brulhart, Director of the Vatican Financial Information Authority, speaks to the press about the Vatican's finances on May 22, 2013. Credit: Estefania Aguirre/CNA.
Rene Brulhart, Director of the Vatican Financial Information Authority, speaks to the press about the Vatican's finances on May 22, 2013. Credit: Estefania Aguirre/CNA.

.- The Vatican revealed that its enhanced procedures have enabled it to flag more suspicious transactions in 2012 than it did in 2011.

“I’m not saying that everything is great and perfect, but that a lot of progress has been made in the last two years,” said Rene Brülhart, director of the Financial Information Authority, at the Vatican’s press office.

“It’s important that we’re setting a system here to protect the Holy See,” he added.

The Vatican’s Financial Information Authority made the statistics public at a May 22 press conference, where it made its first-ever annual report available.

The report shows that in 2012 there were six reports of suspicious activity, versus one in 2011.

Brülhart said this proves that his department and its system, which became operational in April 2011, are working well.

The director explained that the six suspicious transactions involved sums of money greater than 10,000 Euros ($13,000) but would not provide additional details.

He also revealed that the Financial Authority asked the Promoter of Justice’s office within the Congregation for the Doctrine of the Faith to study two of the cases and said that they could be related to money laundering.

He stressed that international cooperation to help combat money laundering was “absolutely key and crucial” and that the Vatican is “a key player in global fight of money laundering.”

The Financial Information Authority was set up to help combat money laundering and the financing of terrorism and hired Brülhart as its director just a few months ago.

According to the Swiss native, combating money laundering in the Vatican began back in 2010 after Pope Benedict XVI released a “motu proprio” that laid out the procedures.

“There’s no financial sector in the Vatican, no stock exchange, so it’s a completely different environment,” Brülhart said.

He noted that his office has two functions: to work as an intelligence unit and to supervise the so-called Vatican bank, which is officially called the Institute for Works of Religion.

The Vatican bank also recently received a new president, Ernst von Freyberg, who announced May 13 that it will make its annual report public and launch a website to better inform the public about its mission.

Tags: Vatican Bank, Vatican Finances


Ads by AdsLiveMedia(What's this?)

* The number of messages that can be online is limited. CNA reserves the right to edit messages for content and tone. Comments and opinions expressed by users do not necessarily reflect the opinions or beliefs of CNA. CNA will not publish comments with abusive language, insults or links to other pages

RESOURCES »

Ads by Google (What's this?)
Ads by Google (What's this?)

Featured Videos

Pope Francis celebrates the closing Mass and announces site of next World Youth Day
Pope Francis celebrates the closing Mass and announces site of next World Youth Day
Pope Francis visits poor neighborhood and meets with young people from Argentina
Pope Francis celebrates Mass at the National Shrine of Our Lady of Aparecida
Denver rally draws hundreds in support of religious freedom
Pope Francis prays over a sick man in St Peter's Square
Denver women's clinic will offer natural, Catholic care
Interview Clips: Barbara Nicolosi speaks to CNA
US Cardinals press conference at North American College
Pope Benedict to retire to monastery inside Vatican City
Pope cites waning strength as reason for resignation
Hundreds convene in Denver to urge respect for life
New Orange bishop encourages Catholic unity in diversity
Chinese pro-life activist calls for reform, international attention
At Lincoln installation, Bishop Conley says holiness is success
Mother Cabrini shrine reopens in Chicago after a decade
Ordination of 33 deacons fills St. Peter's with joy
Cardinal says "Charity is the mother of all the virtues"
Augustine Institute expands evangelization effort with new campus
Bishops recall 'Way of St. James' as chance to trust in God
Los Angeles cathedral's newest chapel houses Guadalupe relic
Apr
18

Liturgical Calendar

April 18, 2014

Friday of the Passion of the Lord (Good Friday)

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Jn 18:1 - 19:42

Gospel
Date
04/18/14
04/17/14
04/16/14

Daily Readings


First Reading:: Is 52:13-53:12
Second Reading:: Heb 4:14-16; 5:7-9
Gospel:: Jn 18:1-19:42

Homily of the Day

Jn 18:1 - 19:42

Homily
Date
04/18/14
04/17/14
04/16/14

Ads by AdsLiveMedia.com

Ads by AdsLiveMedia.com
     HTML
Text only
Headlines
  

Follow us: