VATICAN CITY
The Valley Catholic
Posting Date: 08-27-2013
VATICAN CITY (CNS) — The Vatican’s financial oversight agency has joined the Egmont Group, an international network of financial information authorities, who cooperate to fight financial crime.
The Egmont Group “has admitted the Financial Intelligence Authority of the Holy See-Vatican City State as a full member” during a plenary meeting in South Africa, the Vatican said in a written press release July 3.
The Vatican had been in the process of entering the Egmont Group earlier this year as part of its efforts to create adequate measures for vigilance, prevention and fighting money laundering and financing terrorism.
The Egmont global network brings together more than 130 national Financial Intelligence Units (FIUs) that collect and analyze information on suspicious or unusual financial activity, which may then be passed on to law enforcement officials.
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