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Vatican names anti-laundering supremo

The Vatican has chosen Francesco De Pasquale, an expert on money laundering, as the first director of its new Financial Information Authority.

  • Vatican City
  • March 9, 2011
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The Vatican has chosen Francesco De Pasquale, an expert on money laundering, as the first director of its new Financial Information Authority.

Authority prefect Cardinal Attilio Nicora chose Francesco De Pasquale to direct the authority, which the Vatican established Dec. 30, Zenit reports. De Pasquale has more than 20 years experience as a member of the Italian delegation to the Financial Action Task Force on Money Laundering.

The Financial Information Authority was established Dec. 30 as an autonomous and independent body with the task of preventing and countering money laundering or the financing of terrorism.

Vatican Radio spoke with a professor of economic law and Bank of Italy expert about the Vatican’s progress in ensuring that the Church cannot be deceived into cooperating in financial crime.

Marcello Condemi told Vatican Radio that the Financial Information Authority is already at work, though the Vatican’s new money laundering law comes into effect April 1.

“Firstly, it has established a headquarters. [...] Furthermore, it is reviewing the bodies which, by virtue of their typological or organizational characteristics, are believed, in accordance with article two of the law, to be subject to the anti money laundering norms therein contained,” Condemi said.

SOURCE

Director Named for Vatican’s New Finance Authority (Zenit)

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