Suspicious financial activity at Vatican reaches six-year low: watchdog
22 May 2019

Reports of suspicious financial activity in the Vatican reached a six-year low in 2018, an internal watchdog report showed on Tuesday, continuing a trend officials said showed reforms were fully embedded.

The annual report by the Vatican’s Financial Information Authority (AIF) also showed that Vatican’s cooperation with international financial regulators to fight fraud and money laundering had increased nearly six-fold in the same period.

“I think it’s fair to say that a fully functioning system has been implemented and achieved,” Rene Bruelhart, a Swiss lawyer and anti-money laundering expert who has headed the AIF since 2014, told a news conference.

The report showed that 56 Suspicious Activity Reports (SARs) were filed with the authority in 2018, down from a peak of 544 in 2015.

Eleven were passed on to the Vatican’s investigating magistrate. They involved suspicion of international fraud, fiscal fraud or market abuse.

By Philip Pullella, Reuters, 21 May 2019

Read more at Reuters

Photo: AngMoKio [CC BY-SA 2.5], via Wikimedia Commons

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