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Distinguished Toastmaster
BUSINESS & BRANDING COACH . LIFE & LEADERSHIP STRATEGIST MOTIVATIONAL SPEAKER SERVING ENTREPRENEURS & MAIN STREET |
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VATICAN FINANCE OIG RENE BRULHART IN DC TO TALK VATICAN FINANCE REFORM PRE-PAPAL VISIT TO CONGRESS (c) Carrie Devorah:
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Rene Brulhart president of the FIA, Financial Information Authority of the Holy See and Vatican City State spoke in D.C. at the CSIS, Center For Strategic & International Studies Center on Sanctions & Illicit Finance Foundation For Defense Of Democracies Vatican Finance Reform. Brulhart was interviewed by Chairman and Senior Counselor of the Center on Sanctions and Illicit Finance, CSIF, Juan C. Zarate. Zarate is on the Board of Director at the Vatican’s FIA.
CSIS was founded in 1962.
Zarate, CBS Senior National Security Analyst and co-founder of the Financial Integrity Network, served as the Deputy National Security Advisor for Combating Terrorism from 2005-2009. Zarate was appointed the first Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes.
After heading the Lichtenstein financial intelligence unit, Brulhart was vice-chair of the Egmont Group of Financial Intelligence before being appointed to the FIA in 2014, the first lay person presiding over the organization.
The Vatican Bank identifier code is IOPRVAVX.
Pope Pius established the Istituto per le Opere di Religione, IOR, in June 27, 1942. The mission statement of the IOR is "to provide for the safekeeping and administration of movable and immovable property transferred or entrusted to it by physical or judicial persons and intended for works of religion or charity.” The Institute is outside the jurisdiction of the Holy See and the Prefecture for the Economic Affairs of the Holy See because it is not on the Holy See property. 2014, the Church released the statement that the IOR's mission is to be the provider of "specialized financial services to the Catholic Church worldwide."
Brulhart reiterated that the Church’s role is to be responsible to the charity it is given to be custodian of distribution of to places in the world where traditional, mainstream banks do not go.
Brulhart clarified the differences between the Institute for the Works of Religion, the Istituto per le Opere di Religione, IOR, the Vatican Bank. Brulhart heads the Vatican's financial supervisory body AIF, Autorità di Informazione Finanziaria. AIF is, technically, the Vatican version of an OIG, office of Inspector General.
The Vatican has had financial challenges, none the least with the boyfriend of actress Ann Hathaway.
In 1968, the Vatican’s tax-exempt status on Italian investments income was revoked. The Vatican brought on board Michele Sindona a financial advisor through whom the Church’s investments were to be diversified. Sindona funneled the Church’s money’s in to Sindona’s channels of investment. Sindona’s empire collapsed taking $20 million of the Holy See’s monies with it.
In 1982, the Vatican walked back in to more troubles when it was hit as deep pockets paying $224 million to US creditors. The Archbishop has signed a letter of patronage for another ne’er-do-well convicted of fraud and contributing to his bank’s bankruptcy.
A 1999 class action suit against the IOR was dismissed then reinstated in 2005. The precedential suit, Alperin v. Vatican Bank, filed by Holocaust survivors, is still underway, bringing together issues involving the Alien Tort Claims Act (ATCA) and Foreign Sovereign Immunities Act (FSIA).
In 2010, Italian judges seized 23 million euro from the IOR stating anti-money laundering laws were violated. The money was returned to the IOR after magistrates satisfied themselves laundering law standards were met. In 2013, Pope Francis approved the Cardinals' Commission appointing Monsignor Battista Mario Salvatore Ricca as Prelate ad interim. Ricca was faced with accusations prompting him to tender his resignation. Pope Francis rejected Ricca’s resignation stating the Vatican internal investigation produced no credible evidence of the allegations.
In 2010, the Vatican City State negotiated a monetary agreement with the EU. The Vatican had signed a monetary agreement with Italy in 2000. The Holy See accepted the European Court of Justice as the forum where disputes would be settled. The European Coal and Steel Community set up the European Court of Justice was set in 1952, under the Treaty of Paris. The Treaty of Paris was signed in 1951.
2013, Italian police arrested men planning to smuggle 20 million euro cash in to Italy from Switzerland. One of the men, Monsignore Nunzio Scarano, was the senior accountant at APSA, the Vatican’s Administration of the Patrimony of the Apostolic See. Salerno magistrate Elena Guarino was involved in the case. Italian police charged Scarano with laundering millions of euros in false donations through Scarano’s accounts and offshore accounts.
The IOR released an annual report. The report, audited by KPMG, showed a net profit of 86.6 million Euro. The Holy See was given 54.7 million euro to fund the Pope and the Church’s mission.
When asked for greater detail of the Vatican structure, Brulhart confirmed the Vatican is its own self-regulator operating under laws the Vatican writes. All enforcement is Vatican enforcement. Crimes and criminals are addressed inside the Vatican without outside law enforcement, regulators or government involvement. Brulhart said the Vatican complies with money movement laws.
Brulhart described the Vatican, not as a bank, but as a fund. The Vatican Bank is privately held. Brulhart said the FIA does not control the Vatican art, real estate and other holdings. Cash does come in and come out..
The Egmont Group of Financial Intelligence Units, that Bruhlhart worked for, was formed in 1995. The Group is named for a Brussels palace where they first met. The Egmont Group operates as an international network of financial intelligence units. In 2008, Canada’s Finance Minister, Jim Flaherty and Canada’s Financial Investigation Unit, FINTRAC, set up a Secretariat for the Group, in Toronto.
FIU’s are not law enforcement. The FIU’s allege to analyze data they are given the Egmont Secure Web, ESW. The FIU’s determine if and when information they are given is suspicious of money laundering or terrorism finances, should be turned over to law enforcement for prosecution.
Brulhart coyly declined answering where the Vatican keeps its valued art collection, rumored to have artifacts dating back to the days of the Temples.
The 132 members in the Egmont Group. Members include Australian Transaction Report & Analysis Centre (AUSTRAC), Egyptian Money Laundering Combating Unit (EMLCU), Hellenic Anti-Money Laundering and Anti-Terrorism Financing Commission (HAMLC), Israel Money Laundering Prohibition Authority (IMPA), Japan Financial Intelligence Center (JAFIC), Jersey States of Jersey Police - Joint Financial Crimes Unit, Financial Intelligence Unit (FIU-Malawi), Unit Perisikan Kewangan, Bank Negara Malaysia (UPWBNM), Qatar Financial Information Unit (QFIU), Korea Financial Intelligence Unit, Saudi Arabia Financial Investigation Unit (SAFIU), Cellule Nationale de Traitement des Informations Financières National Financial Intelligence Processing Unit (CENTIF), Seychelles Financial Intelligence Unit, Urad RS za Preprecevanje Pranja Denarja Ministrstvo za Finance/Office for Money Laundering Prevention (OMLP), Finanspolisen Rikskriminalpolisen (FIPO) National Criminal Intelligence Service, Financial Unit (NFIS), Meldestelle für Geldwäscherei, Bureau de communication en matière de blanchiment d'argent, Ufficio di comunicazione in materia di riciclaggio di denaro Money Laundering Reporting Office (MROS), Unidad de Inteligencia Financiera del Peru (UIF), NZ Police Financial Intelligence Unit, Togo Financial Intelligence Unit, Trinidad and Tobago Financial Intelligence Unit.
Brulhart said the Vatican is working with the UN on a one world currency. Small world that it is, the UN is working on moving IANA out of America to EU to be under UN oversight, along with WIPO. The UN has been working on its one world, 1ne(.org) and, now, a one world currency. IANA, Internet of Assigned Names Authority, is overseen by LA based ICANN, Internet Corporation of Assigned Names and Numbers. ICANN started in 1998 inside the Clinton Oval office. Originally named Newco, ICANN has evolved from a US military concept to a non-profit controversial over its exponential money gain, from $70,000,000 to almost ½ billion as ICANN began to roll out its controversial GTLD program. GTLDs are those things on the end of a website domain name like, .com, .gov or, these days, .sucks.
News reported the Vatican Fund has $1.3 billion under "management." Brulhart was asked how the Vatican makes its money. The obvious answer is people donate the "seed money" expecting the Vatican gives their donations directly to the poor. Brulhart answered the Vatican invests. Brulhart was asked about chance of the Vatican being hacked. Brulhart said, ‘no chance,’ one can guess why not without adressing the Vatican's loss of funds through fund related managers. Anyone hacking the Vatican has to answer to a higher authority.
CSIS was founded in 1962.
Zarate, CBS Senior National Security Analyst and co-founder of the Financial Integrity Network, served as the Deputy National Security Advisor for Combating Terrorism from 2005-2009. Zarate was appointed the first Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes.
After heading the Lichtenstein financial intelligence unit, Brulhart was vice-chair of the Egmont Group of Financial Intelligence before being appointed to the FIA in 2014, the first lay person presiding over the organization.
The Vatican Bank identifier code is IOPRVAVX.
Pope Pius established the Istituto per le Opere di Religione, IOR, in June 27, 1942. The mission statement of the IOR is "to provide for the safekeeping and administration of movable and immovable property transferred or entrusted to it by physical or judicial persons and intended for works of religion or charity.” The Institute is outside the jurisdiction of the Holy See and the Prefecture for the Economic Affairs of the Holy See because it is not on the Holy See property. 2014, the Church released the statement that the IOR's mission is to be the provider of "specialized financial services to the Catholic Church worldwide."
Brulhart reiterated that the Church’s role is to be responsible to the charity it is given to be custodian of distribution of to places in the world where traditional, mainstream banks do not go.
Brulhart clarified the differences between the Institute for the Works of Religion, the Istituto per le Opere di Religione, IOR, the Vatican Bank. Brulhart heads the Vatican's financial supervisory body AIF, Autorità di Informazione Finanziaria. AIF is, technically, the Vatican version of an OIG, office of Inspector General.
The Vatican has had financial challenges, none the least with the boyfriend of actress Ann Hathaway.
In 1968, the Vatican’s tax-exempt status on Italian investments income was revoked. The Vatican brought on board Michele Sindona a financial advisor through whom the Church’s investments were to be diversified. Sindona funneled the Church’s money’s in to Sindona’s channels of investment. Sindona’s empire collapsed taking $20 million of the Holy See’s monies with it.
In 1982, the Vatican walked back in to more troubles when it was hit as deep pockets paying $224 million to US creditors. The Archbishop has signed a letter of patronage for another ne’er-do-well convicted of fraud and contributing to his bank’s bankruptcy.
A 1999 class action suit against the IOR was dismissed then reinstated in 2005. The precedential suit, Alperin v. Vatican Bank, filed by Holocaust survivors, is still underway, bringing together issues involving the Alien Tort Claims Act (ATCA) and Foreign Sovereign Immunities Act (FSIA).
In 2010, Italian judges seized 23 million euro from the IOR stating anti-money laundering laws were violated. The money was returned to the IOR after magistrates satisfied themselves laundering law standards were met. In 2013, Pope Francis approved the Cardinals' Commission appointing Monsignor Battista Mario Salvatore Ricca as Prelate ad interim. Ricca was faced with accusations prompting him to tender his resignation. Pope Francis rejected Ricca’s resignation stating the Vatican internal investigation produced no credible evidence of the allegations.
In 2010, the Vatican City State negotiated a monetary agreement with the EU. The Vatican had signed a monetary agreement with Italy in 2000. The Holy See accepted the European Court of Justice as the forum where disputes would be settled. The European Coal and Steel Community set up the European Court of Justice was set in 1952, under the Treaty of Paris. The Treaty of Paris was signed in 1951.
2013, Italian police arrested men planning to smuggle 20 million euro cash in to Italy from Switzerland. One of the men, Monsignore Nunzio Scarano, was the senior accountant at APSA, the Vatican’s Administration of the Patrimony of the Apostolic See. Salerno magistrate Elena Guarino was involved in the case. Italian police charged Scarano with laundering millions of euros in false donations through Scarano’s accounts and offshore accounts.
The IOR released an annual report. The report, audited by KPMG, showed a net profit of 86.6 million Euro. The Holy See was given 54.7 million euro to fund the Pope and the Church’s mission.
When asked for greater detail of the Vatican structure, Brulhart confirmed the Vatican is its own self-regulator operating under laws the Vatican writes. All enforcement is Vatican enforcement. Crimes and criminals are addressed inside the Vatican without outside law enforcement, regulators or government involvement. Brulhart said the Vatican complies with money movement laws.
Brulhart described the Vatican, not as a bank, but as a fund. The Vatican Bank is privately held. Brulhart said the FIA does not control the Vatican art, real estate and other holdings. Cash does come in and come out..
The Egmont Group of Financial Intelligence Units, that Bruhlhart worked for, was formed in 1995. The Group is named for a Brussels palace where they first met. The Egmont Group operates as an international network of financial intelligence units. In 2008, Canada’s Finance Minister, Jim Flaherty and Canada’s Financial Investigation Unit, FINTRAC, set up a Secretariat for the Group, in Toronto.
FIU’s are not law enforcement. The FIU’s allege to analyze data they are given the Egmont Secure Web, ESW. The FIU’s determine if and when information they are given is suspicious of money laundering or terrorism finances, should be turned over to law enforcement for prosecution.
Brulhart coyly declined answering where the Vatican keeps its valued art collection, rumored to have artifacts dating back to the days of the Temples.
The 132 members in the Egmont Group. Members include Australian Transaction Report & Analysis Centre (AUSTRAC), Egyptian Money Laundering Combating Unit (EMLCU), Hellenic Anti-Money Laundering and Anti-Terrorism Financing Commission (HAMLC), Israel Money Laundering Prohibition Authority (IMPA), Japan Financial Intelligence Center (JAFIC), Jersey States of Jersey Police - Joint Financial Crimes Unit, Financial Intelligence Unit (FIU-Malawi), Unit Perisikan Kewangan, Bank Negara Malaysia (UPWBNM), Qatar Financial Information Unit (QFIU), Korea Financial Intelligence Unit, Saudi Arabia Financial Investigation Unit (SAFIU), Cellule Nationale de Traitement des Informations Financières National Financial Intelligence Processing Unit (CENTIF), Seychelles Financial Intelligence Unit, Urad RS za Preprecevanje Pranja Denarja Ministrstvo za Finance/Office for Money Laundering Prevention (OMLP), Finanspolisen Rikskriminalpolisen (FIPO) National Criminal Intelligence Service, Financial Unit (NFIS), Meldestelle für Geldwäscherei, Bureau de communication en matière de blanchiment d'argent, Ufficio di comunicazione in materia di riciclaggio di denaro Money Laundering Reporting Office (MROS), Unidad de Inteligencia Financiera del Peru (UIF), NZ Police Financial Intelligence Unit, Togo Financial Intelligence Unit, Trinidad and Tobago Financial Intelligence Unit.
Brulhart said the Vatican is working with the UN on a one world currency. Small world that it is, the UN is working on moving IANA out of America to EU to be under UN oversight, along with WIPO. The UN has been working on its one world, 1ne(.org) and, now, a one world currency. IANA, Internet of Assigned Names Authority, is overseen by LA based ICANN, Internet Corporation of Assigned Names and Numbers. ICANN started in 1998 inside the Clinton Oval office. Originally named Newco, ICANN has evolved from a US military concept to a non-profit controversial over its exponential money gain, from $70,000,000 to almost ½ billion as ICANN began to roll out its controversial GTLD program. GTLDs are those things on the end of a website domain name like, .com, .gov or, these days, .sucks.
News reported the Vatican Fund has $1.3 billion under "management." Brulhart was asked how the Vatican makes its money. The obvious answer is people donate the "seed money" expecting the Vatican gives their donations directly to the poor. Brulhart answered the Vatican invests. Brulhart was asked about chance of the Vatican being hacked. Brulhart said, ‘no chance,’ one can guess why not without adressing the Vatican's loss of funds through fund related managers. Anyone hacking the Vatican has to answer to a higher authority.