Pope published in the Vatican decree against money laundering
Pope Benedict XVI on Thursday before the Vatican.
About three months after the start of investigations into parts of the leadership of the Vatican Bank (IOR), Pope Benedict XVI. Motu proprio on Thursday announced a so-called, inter alia provides for the establishment of a new financial authority of the Vatican.The decree also valid for the Vatican law against money laundering and terrorist financing was announced. Consequently, money laundering is punishable with 12 years in prison. 15 years in prison are provided for offenses related to terrorism and subversive activities. Fraud cases at the expense of the Vatican and abuse of familiar information is expected to be up to six years in prison
By the Pope introduced legislation also provides for penalties for market distortion, human trafficking, black marketing, environmental protection and illegal waste trade. The law applies not only to the Vatican State, but also for all the institutions of the Holy See, if they have to do with financial transactions. The law should be to enable the Vatican, on the "White List" of the Organization for Economic Cooperation and Development (OECD) to set. States are ranked on the list with sharp controls against illegal financial transactions.
Of compliance with the Act is monitored by a new Vatican authority, "authority for financial information" (AIF), the creation of Benedict XVI. simultaneously possessed. Explicitly welcomed the Pope In his letter, the efforts of the international community in the fight against money laundering and terrorist financing. Benedict XVI. also pointed out that he, the new law in performance of the monetary agreement between the Vatican and the European Union of 17 December 2009 lays down.
reacted with the package of measures Pope on allegations against the Vatican bank IOR (Istituto delle Opere Tues religion ") for money laundering. Three months ago, the Roman prosecutor investigations of IOR Chef Ettore Gotti Tedeschi, and another bank manager, and launched a € 23 million IOR Account with an Italian bank seized. Gotti Tedeschi and the manager are in financial transactions, the names have concealed the true authority and in violation of a law against money laundering, said the allegation. The Vatican subsequently secured his cooperation with the Italian authorities.
As "Vatican Bank" known IOR managed funds Catholic orders and associations. In addition, the Institute acts as a savings bank and an investment bank for the investment business of the Curia. It is not obliged to publish its accounts. It is estimated that its investment volume amounts to € 5 billion. The Supervisory Board and the management of the IOR contact now composed of professional bank managers, Catholic lay people in general. Ettore Gotti Tedeschi, for example, belongs to Opus Dei.
Of compliance with the Act is monitored by a new Vatican authority, "authority for financial information" (AIF), the creation of Benedict XVI. simultaneously possessed. Explicitly welcomed the Pope In his letter, the efforts of the international community in the fight against money laundering and terrorist financing. Benedict XVI. also pointed out that he, the new law in performance of the monetary agreement between the Vatican and the European Union of 17 December 2009 lays down.
reacted with the package of measures Pope on allegations against the Vatican bank IOR (Istituto delle Opere Tues religion ") for money laundering. Three months ago, the Roman prosecutor investigations of IOR Chef Ettore Gotti Tedeschi, and another bank manager, and launched a € 23 million IOR Account with an Italian bank seized. Gotti Tedeschi and the manager are in financial transactions, the names have concealed the true authority and in violation of a law against money laundering, said the allegation. The Vatican subsequently secured his cooperation with the Italian authorities.
As "Vatican Bank" known IOR managed funds Catholic orders and associations. In addition, the Institute acts as a savings bank and an investment bank for the investment business of the Curia. It is not obliged to publish its accounts. It is estimated that its investment volume amounts to € 5 billion. The Supervisory Board and the management of the IOR contact now composed of professional bank managers, Catholic lay people in general. Ettore Gotti Tedeschi, for example, belongs to Opus Dei.
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