Republic of China, Holy See sign MOU on cooperation in exchange of financial intelligence

May 15, 2017

No.076 



The Republic of China (Taiwan) and the Holy See signed the Memorandum of Understanding Concerning Cooperation in the Exchange of Financial Intelligence Related to Money Laundering, Associated Predicate Offenses and Terrorism Financing on May 15, 2017, in Vatican City.



Signed by Lee Hung-chin, director of the Anti-Money Laundering Division at the Ministry of Justice’s Investigation Bureau, and Tommaso Di Ruzza, director of the Holy See’s Financial Information Authority, the MOU will be instrumental in helping the two sides combat cross-border money laundering, related serious crimes and terrorism financing.



The ROC and the Holy See entered into talks regarding anti-money laundering measures and cooperation on the monitoring of terrorism financing in October 2016, negotiating in accordance with the International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation released by the Financial Action Task Force on Money Laundering in 2012, and eventually reaching a consensus after several months of consultation. In recent years, Taiwan’s efforts and achievements in promoting international cooperation to combat money laundering have gained approval and accolades from the international community, contributing to its fight against cross-border crime and enhancing the nation’s international image.



The Holy See is one of the key diplomatic allies of the ROC. Diplomatic ties between Taiwan and the Vatican, who share many common values, remain solid, and the signing of this latest MOU demonstrates the countries’ engagement in close and frequent cooperation and exchange. The ROC will actively increase such cooperation and exchange with the Holy See in various areas going forward, so as to deepen their bilateral relations and friendship. (E)