Vatican introduces Law XVIII on transparency, supervision and information [1]

 

Vatican Insider - 10/09/13, By Vatican Insider Staff

 

The IOR headquarters

The Pontifical Commission for Vatican City has introduced a new law as a further clampdown on the financial system. The new law gives greater powers to the Financial Information Authority and the Governorate

“Law No. XVIII consolidates the existing discipline in matters of: Measures to prevent and counter money laundering and the financing of terrorism; Vigilance and regulation of the bodies carrying out professional activities of a financial nature; Collaboration and exchange of information by the Financial Information Authority internally and at an international level; Measures against individuals who threaten peace and international security; Declarations of cross-border transportation of cash.”

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