The Vatican announced that a suspension imposed on its financial oversight office by a prominent financial watchdog network has been lifted.
In a statement released on 23rd January, Carmelo Barbagallo, head of the Vatican Financial Information Authority, said that Mariano Federici, president of the Egmont Group, “decided to revoke the decision taken on 13th November 2019, to suspend the Financial Information Authority from the international information circuit, Egmont Secure Web.”
According to its website, the Egmont Group is an association of 164 financial intelligence units that “provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorist financing.”
Barbagallo said the lifting of the suspension was “a very important step” that confirms the Egmont Group’s trust in AIF.
“This decision follows the explanations provided by AIF to Egmont concerning the extraordinary nature of the facts that gave rise to the suspension,” he said.
The head of AIF also said the Vatican assured Egmont that information received through the watchdog’s intelligence platform “will be treated in a manner that is consistent with the rules that apply to that circuit.”