Saturday, April 2, 2011

Enter into force the laws Vatican fraud

The Press Office of the Holy See reported that Friday come into force four rules against "illegal activities in the financial fronts," which also formally established the Financial Reporting Authority. This structure is designed to "prevent and contrast the phenomenon of money laundering" and control the financial activities of the citizens of the Vatican.

With the entry into force of these measures, which were announced on 30 December, the State of Vatican City unifies its economic laws to European standards and anti-money laundering fraud. It also implements the 'Monetary Convention' signed by the European Union Commission and the State of Vatican City on 17 December 2009.

The Director of the Press Office of the Holy See, Father Federico Lombardi, explained that these new laws "have a moral and pastoral significance" because they try to "build a just and honest civil coexistence." Through these measures, the Vatican requires people to report to IDA every time you need to remove more than 10,000 euros from its accounts.

This measure is "an important instrument of transparency" over financial transactions that "may give rise to certain suspicions" about illegal activities of money laundering, as reported by the Rev. Federico Lombardi. The Vatican has reported that the charge of receiving the statements for suspicious activity will be the Corps of the Gendarmerie, the Police of the State of Vatican City, which then report directly to the Financial Reporting Authority.

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