Loading
Vatican's financial intelligence unit nets suspicious activity
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.
By Estefania Aguirre
Facebook Twitter Google+ Pinterest Addthis

.- 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

Featured Videos

Little Sisters of the Poor press conference in Denver
Little Sisters of the Poor press conference in Denver
Family thrilled to see Pope Francis in Istanbul
Syrian Refugee, Sara, 14, Before Meeting Pope
Ebola orphans thousands of children in West Africa
One year after Haiyan: Philippines rebuilds homes, lives
An Indian contribution to the Vatican's Synod on the Family
Christ Cathedral CNA video Sept 2014
Alejandro Bermudez of CNA accepts ice bucket challenge
'The Real Albania,' remembering those who fled
Pope Francis in Albania, "one of the most important visits of the post-communist era in Albania"
Pope Francis greets paralyzed man who risked all to see him
Franciscans on the banks of the Tiber in Rome, working for the New Evangelization
Pilgrimage from Czech Republic to Assisi and Rome for intentions
Testimony of young Indian who met Pope in Korea
Preparations of the Closing Mass of 6th Asian Youth Day
Missionary of Charity, Korea
Testimony of Christian Love during Pope's Visit to Korea
Religious Sisters in South Korea react to Pope Francis kissing a baby
Warm atmosphere during Holy Mass at Daejeon World Cup Stadium
Images inside Pope Francis flight to South Korea
Dec
20

Liturgical Calendar

December 20, 2014

Advent Weekday

All readings:
Today »
This year »

Catholic Daily

Gospel of the Day

Mt 21:23-27

Gospel
Date
12/15/14
12/14/14
12/13/14

Daily Readings


First Reading:: Judg 13: 2-7, 24-25A
Gospel:: Lk 1: 5-25

Saint of the Day

St. Romuald »

Saint
Date
12/15/14

Homily of the Day

Mt 21:23-27

Homily
Date
12/15/14
12/14/14
12/13/14