For the Countering of Money Laundering, Financing of Terroism and Proliferation of Weapons of Mass Destruction

Motu Proprio for the Countering of Money Laundering, Financing of Terroism and Proliferation of Weapons of Mass Destruction

Pope Francis

Pope sets up Financial Security Committee

On Thursday, 8 August [2013], Pope Francis issued a Motu Proprio for the prevention and countering of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. Pursuant to the steps already taken by Benedict XVI in this area with the Motu Proprio of 30 December 2010 for preventing and countering illegal activities in the areas of finance and currency, the Motu Proprio reaffirms the Holy See's commitment to the goal of preventing and countering money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. In particular, the present Motu Proprio broadens the application of the relevant Vatican laws to the Dicasteries of the Roman Curia and to other institutes and entities dependent on the Holy See, as well as to non-profit organizations enjoying juridical personality in canon law and based in Vatican City State. It also strengthens the supervisory and regulatory function of the Financial Information Authority. The Motu Proprio establishes the function of prudential supervision over entities habitually engaged in financial activities, in response to a recommendation of the MONEYVAL Committee of the council of Europe, and assigns that function to the Financial Information Authority. It establishes the Financial Security Committee, whose statutes are appended to the Motu Proprio, for the purpose of coordinating the competent authorities of the Holy See ane Vatican City State in the area of prevention and countering of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. The following is a translation of Pope Francis' Motu Proprio which was written in Italian and dated 8 August 2013.

Apostolic Letter
issued MOTU PROPRIO
for the prevention and countering
of money laundering, the
financing of terroism
and the proliferation of weapons
of mass destruction

The promotion of integral human development at the material and moral level requires a profound reflection on the vocation of the economic and financial sectors, as well as on how they correspond with its ultimate aim of achieving the common good.

For this reason in conformity with its nature and mission the Holy See is participating in the efforts of the international community that aim to protect and promote the integrity, permanence and transparency of the economic and financial sectors and to prevent and to counter illegal activities.

Pursuant to the steps already taken by my Predecessor Benedict XVI in this area with the Motu Proprio of 30 December 2010 for preventing and countering illegal activities in the area of monetary and financial dealings, I wish to renew the Holy See’s commitment to adopting the principles and juridical instruments developed by the international community, bringing further into line with them institutional structures for the prevention and countering of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. With this Apostolic Letter in the form of a Motu Proprio I adopt the following measures:Article 1

The dicasteries of the Roman Curia and other institutes and entities dependent on the Holy See, as well as non-profit organizations that enjoy juridical personality in canon law and are based in Vatican City State, are bound to observe the laws of Vatican City State with regard to:

a) measures for the prevention and countering of money laundering and the financing of terrorism;

b) measures against those who threaten international peace and security;

c) prudential supervision of entities habitually engaged in a professional financial activity.Article 2

The Financial Information Authority exercises the prudential role of the supervision and regulation of entities that are professionally engaged in a financial activity. Article 3

The competent judicial bodies of Vatican City State exercise jurisdiction in the above-mentioned issues also with regard to the dicasteries and other entities and institutions dependent on the Holy See, as well as to those non-profit organizations which have juridical personality in canon law and are based in Vatican City State.Article 4

The Financial Security Committee is established for the purpose of coordinating the competent authorities of the Holy See and of Vatican City State for the prevention and countering of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. It is disciplined by the Statutes appended to this Apostolic Letter.

I establish that this Apostolic Letter in the form of a Motu Proprio be published in L’Osservatore Romano.

I dispose that everything which has been established have full and permanent value as from 10 August 2013, abrogating in addition any incompatible measures.

Given in Rome at the Apostolic Palace on 8 August of the year 2013, the first of the Pontificate

L'Osservatore Romano
Weekly Edition in English
21 August 2013, page 5

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