In today's world, Supervisory and Financial Information Authority (Vatican City) has gained indisputable relevance. Whether due to its impact on society, culture or politics, Supervisory and Financial Information Authority (Vatican City) has become a constant topic of conversation. Its influence extends to all aspects of life, generating conflicting opinions and constant debate. In this article, we will explore in depth the importance of Supervisory and Financial Information Authority (Vatican City), analyzing its implications and its role in the contemporary world. Through a detailed analysis, we will seek to better understand how Supervisory and Financial Information Authority (Vatican City) has shaped our reality and what its future projection is.
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The Supervisory and Financial Information Authority (Autorità di Supervisione e Informazione Finanziaria, or ASIF) is the central institution in the Holy See and Vatican City State that is responsible for the prevention and countering of money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction (AML/CFT/CPT). It is the central authority for supervision and regulation in these matters, both in relation to the obliged entities (i.e. the entities who, due to the activities they carry out, are subject to the obligations set out in the AML/CFT/CPT legislation) and the reporting entities (i.e. entities who, under Vatican law, are required to report suspicious activities). With regard to obliged entities, there is only one such entity in the jurisdiction – the Istituto per le Opere di Religione – while the reporting entities consist of every legal entity with a registered office in the Vatican City State and all the Institutions of the Roman Curia. The Authority also contains the jurisdiction's financial intelligence unit, which is responsible for acquiring and analyzing the suspicious activity reports submitted by reporting entities, making use of internal and international collaboration (the Authority is a member of the Egmont Group). Furthermore, ASIF is also the central authority for the supervision and prudential regulation of entities that professionally carry out financial activities (to date, exclusively the Istituto per le Opere di Religione).
The AIF has its seat in Palazzo San Carlo, Vatican City, close to Domus Sanctae Marthae.
The Authority, originally named the Financial Information Authority (Autorità di Informazione Finanziaria, or AIF), was established by Pope Benedict XVI on 30 December 2010 with the Apostolic Letter issued Motu Proprio“ for the prevention and countering of illegal activities in the area of monetary and financial dealings”. In August 2013, the Authority was given the mandate by Pope Francis to also carry out prudential supervision. The powers of the Authority were confirmed by Pope Francis on 15 November 2013 through an Apostolic Letter issued Motu Proprio, with which a new Statute was approved. On 5 December 2020, Pope Francis approved an updated version of the Statute, by virtue of which the Authority took on its current name and a new organizational structure, one that is more responsive to its operational and institutional needs. However, the skills and functions remained unchanged, as also reiterated in Article 248 of the Apostolic Constitution “Praedicate Evangelium” of 19 March 2022. In accordance with the current Statute, ASIF is made up of three bodies (the President, the Board and the Directorate) and is divided into three Units (the Supervisory Unit, the Regulatory and Legal Affairs Unit and the Financial Intelligence Unit).
Board members, appointed for five years, as of 2019 were:
Members of the Directorate, appointed for five years, as of 2019 were: