It also said: "Domestic cooperation with the competent authorities of the Holy See and the Vatican City State is intense and led to 24 requests for information and concerned 423 subjects."
"A marked increase in exchanges with the authorities of the Holy See and Vatican City State was observed as compared with the previous year, which confirms the trend of greater domestic cooperation and exchange of information, as well as greater involvement of Holy See and Vatican City State authorities in countering money-laundering and the financing of terrorism."
Moneyval was due to carry out a scheduled inspection of the Vatican in spring 2020. But the inspection was delayed due to the coronavirus outbreak.
In a July 3 statement on the AIF's annual report, the watchdog's president Carmelo Barbagallo said that the Moneyval evaluation team would begin its inspection of the Holy See and Vatican City State Sept. 29.
"The inspection, which will last about two weeks, was actually scheduled to begin in April but was postponed because of the pandemic. AIF has been tasked with heading the Vatican's delegation," he said.
He continued: "Several years have gone by since Moneyval's first inspection of the Holy See and Vatican City State, which took place in 2012. During this time span, Moneyval has remotely monitored the many advances made by the jurisdiction in the fight to prevent money laundering and the financing of terrorism. As such, the upcoming inspection is especially important. Its outcome may determine how the jurisdiction is perceived by the financial community."
"The Moneyval inspection will be broad-based. It will cover both the legislative framework and its effective implementation. It is crucial to arrive well prepared, to highlight the progress achieved in recent years in the system of controls, and to underscore what has been done in recent months to assure further progress."
Last year was a turbulent period for the financial watchdog.
On Oct. 1, Vatican gendarmes raided the AIF's offices in connection with a controversial London property deal. This led to the suspension of five employees and officials, including Tommaso Di Ruzza, the AIF's director. They were also blocked from entering the Vatican.
The Egmont Group, through which 164 financial intelligence authorities share information and coordinate their work, suspended the AIF Nov. 13.
René Brüelhart, a Swiss lawyer who had served as president of the AIF since 2012, resigned Nov. 18.
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Marc Odendall, a Swiss-German banker and member of the AIF board, resigned the same day, citing the Egmont Group's decision and Brüelhart's departure.
"We cannot access information and we cannot share information. There is no point in staying on the board of an empty shell," he told the Associated Press.
During an in-flight press conference Nov. 26, Pope Francis confirmed that Di Ruzza remained suspended because of suspected "bad administration."
"It was AIF that did not control, it seems, the crimes of others. And therefore [it failed] in its duty of controls. I hope that they prove it is not so. Because there is, still, the presumption of innocence," Pope Francis said.
Barbagallo, an auditor and Italian banking consultant, was named Brüelhart's successor Nov. 27.
Barbagallo announced in January that the Egmont Group had lifted its suspension of the AIF.