“Further positive developments towards the effectiveness of the domestic system and its international accreditation has been shown in 2018”. This is according to the latest report by the AIF (Financial Information Authority), which will be presented in the Vatican press office today. “As far as the prevention and countering of money-laundering and financing of terrorism is concerned – the introduction to the Report singed by Director Tommaso Ruzza reads -, the first conviction” for self-laundering “pronounced by the Tribunal of the Vatican City State is worthy of mention, following the dissemination of a report by the Authority”. Moreover, the process of adhesion of the Holy See/Vatican City State to the geographical area of the Single Euro Payments Area was “successfully” concluded. This is “a relevant step forward towards the harmonization and the efficiency of transfers of funds within the European area, with benefits also for the customers”, Mr Ruzza wrote, pointing out that such a step makes “the uniqueness, autonomy and independence of the jurisdiction even more visible in the area of financial services”. Furthermore, the AIF “has continued with its institutional activities in its two-fold function of supervisory authority and financial intelligence” including through “remote and on-site inspections, which confirm the 2017 data on the stability of financial activities and of the Institute for the Works of Religion (IOR)”. Activities aimed at the prevention and countering of money laundering and financing of terrorism were also stepped up. There were 15 cases of cooperation and exchange of information with foreign supervisory authorities and 2 new Memoranda of Understanding. “The financial intelligence activity has been characterized by a wide international cooperation”, the introduction to the Report reads. “The data on suspicious activity reports confirms the trend of a decrease in the number and an increase in the quality of the reports, also by the Authorities of the Holy See and the Vatican City State”. 11 reports were sent to the Office of the Promoter of Justice “for further investigation activities”. There were 231 cases of cooperation and exchange of information with domestic Authorities. Finally, there were 473 cases of cooperation and exchange of information with Financial Intelligence Units and 6 new Memoranda of Understanding.