Suspicious transactions soar at Vatican Financial Authority
Director attributes rise from six to 202 to improved scrutiny
Picture: Vatican Insider/La Stampa
The 2013 Vatican Financial Information Authority (AIF) report shows an increased number of suspicious financial transactions, a decrease in the number of cross-border cash declarations, progress made in the fight against money laundering and the financing of terrorism.
The AIF’s director, René Brülhart, presented the annual report (the second one since the AIF’s establishment) at a press conference today. Brülhart said the AIF has concluded its inspection of the IOR (often referred to as the Vatican bank) and the coordination with the newly created Secretariat of the Economy, which Pope Francis has put Australian Cardinal George Pell in charge of, is underway.
In answer to the internal conflicts within the IOR in recent months, the Swiss expert assured that the IOR’s system of governance was fully functioning.
“The AIF has recorded a notable uptake in suspicious transaction reports (STR) from six in 2012 to 202 in 2013,” a summary statement given by Brülhart reads. “This increase reflects both the development of the legal framework and a substantial improvement in the operational performance of the supervised entities with regard to the prevention of financial crime. Five reports have been passed on to the Vatican Promoter of Justice for further investigation by judicial authorities.”
Source: Vatican Insider/La Stampa
Some Christians believe the incident was arson and part of a wave of anti-Christian attacks
Alleged beating and torture highlights abuse of power by law enforcers, rights activists say
New law replaces old one, allowing police to justify detention of human rights defenders, political prisoners, say activists
India's prime minister is keen to hold on to Christian support but it will be a tough sell
Delegates pledge to present beauty of life as Tagle urges mercy for victims of violence