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Pope Francis issues more statutes to check illicit activities in the Vatican Financial Sector



Pope Francis issued a document on Monday known in church language as a Motu Proprio, in which he officially approved the new statutes of the Holy See’s Financial Intelligence Authority. The document follows up on earlier regulations from Pope Francis himself, and from his predecessor, retired Pope Benedict XVI, to put in place norms on financial transparency and oversight of the Institute of Works of Religion, commonly known as the Vatican Bank. The purpose of the statutes is to strengthen further the institutional framework of the Holy See and the Vatican City State so as to prevent illicit activities in the financial sector. The new Statutes distinguish the role and functions of the President, the Board of Directors and the Directorate of the Financial Intelligence Authority so as to ensure that it fulfills more adequately its institutional functions in full autonomy and independence and in a manner consistent with the institutional and legal framework of the Holy See and the Vatican City State. The Statutes also establish a specific office for supervision, and provide it with the necessary professional resources.







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