Supervisory and Financial Information Authority (ASIF)

The Supervisory and Financial Information Authority (Italian: Autorità di Supervisione e Informazione Finanziaria, ASIF) is the central institution in the Holy See and Vatican City responsible for preventing and countering money laundering, terrorist financing, and financing of the proliferation of weapons of mass destruction (AML/CFT/CPT).

ASIF oversees both obliged entities—those legally required to comply with AML/CFT/CPT rules—and reporting entities, which must report suspicious activities under Vatican law. Currently, the only obliged entity is the IOR, while reporting entities include all legal entities registered in Vatican City and all institutions of the Roman Curia.

The Authority also serves as the Vatican’s financial intelligence unit, analyzing suspicious activity reports and collaborating internationally as a member of the Egmont Group. Additionally, ASIF supervises the prudential regulation of entities that professionally conduct financial activities, which to date includes only the IOR.

ASIF is headquartered in Palazzo San Carlo, Vatican City, near Domus Sanctae Marthae.

Attilio Nicora

Attilio Nicora (16 March 1937 – 22 April 2017) was an Italian prelate who held senior positions in the Roman Curia. He served as president of the Administration of the Patrimony of the Apostolic See from 2002 to 2011 and as president of the four-person Executive Board of the Financial Information Authority (FIA) from 2011 to 2014. Nicora was bishop of Verona from 1992 to 1997, received the personal title of archbishop in 2002, and was made a cardinal in 2003.

Supervisory and Financial Information Authority (ASIF)

The Supervisory and Financial Information Authority (Italian: Autorità di Supervisione e Informazione Finanziaria, ASIF) is the central regulatory body of the Holy See and Vatican City responsible for preventing and combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction (AML/CFT/CPT).

ASIF supervises and regulates both obliged entities—those required to follow AML/CFT/CPT legislation—and reporting entities, which are required to report suspicious activities under Vatican law. Currently, the only obliged entity is the Istituto per le Opere di Religione (IOR), while reporting entities include all legal entities registered in Vatican City and the institutions of the Roman Curia.

ASIF also functions as the Vatican’s financial intelligence unit, analyzing suspicious activity reports and collaborating with international partners. The Authority is a member of the Egmont Group, which facilitates global cooperation among financial intelligence units.

Additionally, ASIF oversees the prudential regulation of entities that professionally carry out financial activities, which, to date, is exclusively the IOR. The Authority is based in Palazzo San Carlo, Vatican City, near Domus Sanctae Marthae.

Institute for the Works of Religion (IOR)

The Institute for the Works of Religion (Italian: Istituto per le Opere di Religione; Latin: Institutum pro Operibus Religionis; abbreviated IOR), commonly known as the Vatican Bank, is a financial institution located within Vatican City.

The IOR is governed by a Board of Superintendence that reports to a Commission of Cardinals and the Pope. It is not a private bank, as it has no owners or shareholders, and is established as a juridical canonical foundation under its statutes.

Since 9 July 2014, the IOR’s president has been Jean-Baptiste de Franssu. Its operations and compliance are regulated by ASIF, ensuring adherence to Vatican financial oversight and international standards.

History and Reform of the Institute for the Works of Religion (IOR)

The Institute for the Works of Religion (IOR), commonly known as the Vatican Bank, was founded in June 1942 by papal decree of Pope Pius XII. For decades, its operations remained largely private, but it began taking steps toward greater transparency in the 2010s.

• In June 2012, the IOR presented an overview of its operations for the first time.

• In July 2013, it launched its official website.

• On 1 October 2013, the Institute published its first-ever annual report.

On 24 June 2013, Pope Francis established a special investigative Pontifical Commission (CRIOR) to study reforms at the IOR. Following extensive collaboration between the CRIOR, the COSEA commission, and the IOR’s management, Pope Francis approved a set of recommendations on 7 April 2014 regarding the Institute’s future.

The Vatican stated, “The IOR will continue to serve with prudence and provide specialized financial services to the Catholic Church worldwide.” The Pope’s approval reaffirmed the importance of the IOR’s mission for the benefit of the Catholic Church, the Holy See, and Vatican City State.

A pontifical commission (Latin: pontificia commissio) is a committee of Catholic experts convened by the Pope for a specific purpose. The following is a list of commissions, the dates they began and the pope who established.