Vatican City, Dec 5, 2020 / 07:35 am (CNA).- Pope Francis approved Saturday sweeping changes to the Vatican’s financial watchdog authority.
The Holy See press office announced Dec. 5 that the pope had ratified new statutes for the Financial Intelligence Authority, renaming the agency created by Benedict XVI in 2010 to oversee Vatican financial transactions.
The body, which ensures that the Vatican complies with international financial standards, will no longer be known as the Financial Intelligence Authority (Autorità di Informazione Finanziaria, or AIF).
It will now be called the Supervisory and Financial Information Authority (Autorità di Supervisione e Informazione Finanziaria, or ASIF).
The new statutes also redefine the roles of the agency’s president and directorate, as well as establishing a new Regulation and Legal Affairs Unit within the organization.
Carmelo Barbagallo, the authority’s president, told Vatican News that the addition of the word “Supervisory” enabled the agency’s name “to be aligned with the tasks actually assigned to it.”
He noted that, in addition to carrying out its original functions of gathering financial intelligence and combating money laundering and the financing of terrorism, the agency had also supervised the Institute for the Works of Religion, or “Vatican bank,” since 2013.
He said that the new unit would handle all legal issues, including regulation.
“The tasks of defining the rules have been separated from those of exercising controls,” he said.
He explained that the agency would now have three units: a Supervision Unit, a Regulation and Legal Affairs Unit, and a Financial Intelligence Unit.
Barbagallo, whose role as president is significantly strengthened by the changes, said that one of the most important novelties was that in future the agency would be required to follow stricter rules on the appointment of new lay personnel.
The watchdog will have to consult a body known as the Independent Evaluation Commission for the Recruitment of Lay Personnel to the Apostolic See, known by its Italian acronym, CIVA.
Barbagallo said this would ensure “a more extensive selection of candidates and a greater control in hiring decisions, avoiding the risk of arbitrariness.”
The approval of the new statutes marks the end of a year of upheaval for the agency. At the start of 2020, the authority was still suspended from the Egmont Group, through which 164 financial intelligence authorities worldwide share information.
The agency was suspended from the group on Nov. 13, 2019, after Vatican gendarmes raided the offices of the Secretariat of State and the AIF. This was followed by the abrupt resignation of René Brülhart, the authority’s high-profile president, and the appointment of Barbagallo as his replacement.
Two prominent figures, Marc Odendall and Juan Zarate, then resigned from the AIF’s board of directors. Odendall said at the time that the AIF had been effectively rendered “an empty shell” and that there was “no point” in remaining involved in its work.
The Egmont Group reinstated the AIF on Jan. 22 this year. In April, Giuseppe Schlitzer was appointed director of the agency, succeeding Tommaso Di Ruzza, who was one of five Vatican employees suspended after the raid.
During an inflight press conference in November 2019, Pope Francis criticized the AIF under Di Ruzza, saying that “it was AIF that did not control, it seems, the crimes of others. And therefore [it failed] in its duty of controls. I hope that they prove it is not so. Because there is, still, the presumption of innocence.”
The watchdog authority issued its annual report in July. It disclosed that it had received 64 suspicious activity reports in 2019, 15 of which it forwarded to the Promoter of Justice for possible prosecution.
In its annual report, it hailed “the rising trend in the ratio between reports to the Promoter of Justice” and cases of suspicious financial activity.
The report came ahead of a scheduled inspection by Moneyval, the Council of Europe’s anti-money laundering watchdog, which has put pressure on the Vatican to prosecute breaches of financial regulations.
Speaking after the release of the AIF’s annual report, Barbagallo said: “Several years have gone by since Moneyval’s first inspection of the Holy See and Vatican City State, which took place in 2012. During this time span, Moneyval has remotely monitored the many advances made by the jurisdiction in the fight to prevent money laundering and the financing of terrorism.”
“As such, the upcoming inspection is especially important. Its outcome may determine how the jurisdiction is perceived by the financial community.”
A report based on the inspection is scheduled for discussion and adoption at a plenary meeting of Moneyval in Strasbourg, France, on April 26-30, 2021.
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May God bless Fr. Weinandy.
They hadn’t the courage to fire him. Similar to Pilate washing his hands. What’s disheartening is what it says about the USCCB. They unlike Churchill say, “We will always surrender”. Darkness pervades. Catholics faithful to the Gospel of Christ firmly rooted in the Apostolic Tradition are mocked, disdained, forced to resign, fired like Josef Seifert by other Catholics who have sworn allegiance to the new gospel. Whether these are End Times is unknown. Prayerfully a passing phase soon to be corrected. Yet it certainly is unprecedented. Unlike previous Pontiff’s who erred this distancing from Apostolic Tradition is too sweeping. Can this be permitted by God and why asks Fr Weinandy. As do most of us. Sin and disobedience to Christ’s commandments. Apostasy. As a priest I cannot repudiate the Gospels for something other than what the Apostles handed down to me. At judgment I, all priests [Bishops and Cardinals included] will be asked “Peter, did you feed my Lambs”. My hopeful prayer is, “Yes Lord, I fed them good food. Your words”.
Is Weinandy seriously a Theologian and still acts thinking he can lay conditions on God to prove to him that he should proceed as planned.?? Come off it! The management of the Church and indeed the planet Earth rests solely in evolution and in the hands of humanity protected by oversight of the Spirit of God.
“The management of the Church and indeed the planet Earth rests solely in evolution…”
Do you really want to keep this up? It’s embarrassing.
Signor Olson. We’re all due for a bit of comic relief.
ditto!
I agree with Carl that this comment is truly embarassing.
I hope comment is made about some authors’ use of the word “dissent.” It is VERY misleading and slanderous against Father Weinandy.
Yes, Father Weinandy is courageously opposing dissenters in the highest places. Who among us could ever imagine that we would experience this persecution of the Faith in our lifetime, when it seems like yesterday, that it was honored by all? Who could have believed that the most vigorous persecution would come from the pope and his team of unprincipled (as though they were not Christian) revolutionaries?
Today, those who vowed to preserve and defend our Faith, dishonor it in word and deed, while bowing low before all kinds of false beliefs.
Sometimes the shock and terror are overwhelming. I must remind myself constantly that this has been known from the beginning. Our Lord Jesus Christ says: Fear not!
I should abandon my bad inclination, and I should trust and obey Him.
Given the extraordinarily rapid timeline, with publication of the letter and publication of the USCCB press releases only six hours apart, it appears that the member bishops did not hold a meeting, make sure they had a quorum, and hold a vote. It appears that one or more post-Catholic ordained bureaucrats made this decision, which may go down in history as the “jumping of the shark” by the USCCB.
A pope who will not clarify his own exhortation, either in private or public. This pope who is on the brink of formal heresy while claiming to be “a faithful son of the Church”.
Fr. Martin weighs in????
How long, Lord?
I’m curious, why did he not just let them fire him? This is not a criticism, but what advantage to him if he “resigns” than if he is “fired”? Is there something in the vow of obedience? Although if he were to have been fired, it may well have raised his standing even more? I imagine Father did not fully anticipate the fallout of his letter.
These folks also don’t seem to realize that this infers Francis is proposing new teaching, for what else would require a new/current act of assent, as though Weinandy would have withdrawn his previous assent from the perennial teaching?
I am a lay Catholic. I do not agree with what Father Weinandy did: I disagree with both the content of the letter and the way he made it public. I am only weighing in on this because Father Weinandy emphasized that he received many letters and emails, mostly from lay people, all of them positive. I support Pope Francis and thought the letter read like an attack on him. The USCCB was right to force Weinandy’s resignation (they could have just terminated him; it was very gracious of them to allow him to resign).
Irene,
You present a false notion: that Fr. Weinandy is “anti-Francis” and this was the reason for his letter. This is unfortunately a way people are trying to discount it and if you think about it, this mode is exactly what they are accusing him of. It was quite the opposite if you read his reasons for it. The ultimate point is whether what he states in the letter is true and that even what one might call the more subjective parts are his actual experience as a priest, hearing from what he says is “many” people. Exactly what in his letter is false? Can you say without any doubt that none of what he mentions is happening anywhere? Are you saying he is lying when he speaks of his personal experience? If you can’t rule this out then the foundation of his letter stands.
Oh, yes, very gracious… So Fr. Martin now calls himself “Irene” ?
So where is the “mercy and dialogue” that Pope Francis and bishops keeps talking about? Did I miss something here?
There is “mercy and dialogue” for the LGBTQ people, so-called “catholic” politicians or pro-aborts or atheists but none whatsoever for the catholic theologian who embraces and preaches the Gospel?!!
Remember when St. Paul rebuked Peter (the first pope) in Galatians 2:11-13
In John 16:2 Jesus said “They will expel you from the synagogues; in fact, the hour* is coming when everyone who kills you will think he is offering worship to God.
They will do this because they have not known either the Father or me”.
Rejoice Fr. Weinandy!! You are truly blessed for being found worthy!
Jesus will bless you greatly!
I fully agree, Fr. Weinandy is our hero. I hope he will honor us by becoming a Member of our newly founded John Paul II Academy for Human Life & the Family!
Mercedes Arzú Wilson.
What I would like to know is: did anyone at USCCB get a phone call from the Vatican before “encouraging” Father Weinandy to resign?
Yes. May God bless Fr. Weinandy. He is a good and faithful servant of the Lord.
If Fr. Weinandy had come out in support of Planned Parenthood, he would still be judged employable by the USCCB.
I would love to know, on what date was Father Weinandy ‘s letter published and on what forum?
Thank you for a reply,
Teréz Barna
Fr. Weinandy’s letter appeared on November 1st, and was published by various outlets, including on Sandro Magister’s site, CRUX, and The Catholic Herald. It also appeared here at CWR on the same day, with a note of explanation by Fr. Weinandy.