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GENERAL RISK ASSESSMENT

Pursuant to Article 9 (1) (2) (a) of the Law No. XVIII of 8 October 2013, the Financial Security Committee (Comitato di Sicurezza Finanziaria – CoSiFi): a) establishes the criteria and the methods for the elaboration of the general assessment of risks of money laundering, financing of terrorism and the proliferation of weapons of mass destruction; b) approves the general risk assessment and its regular updating. On the basis of the general risk assessment, the Financial Security Committee: a) evaluates the adequacy of the objectives and priorities and identifies the measures required by the competent authorities for the management and mitigation of risks, including the adequacy of the human and material resources available; b) coordinates the identification, evaluation, information, management and mitigation of the risks of money laundering and the financing of terrorism by the competent authorities; c) coordinates the adoption and regular updating of policies and procedures for the prevention and the countering of money laundering, financing of terrorism and the proliferation of weapons of mass destruction.

Tha CoSiFi is chaired by the Assessor for General Affairs of the Secretariat of State, and composed by, the Under-Secretary for Relations with States of the Secretariat of State, the Secretary General of the Governorate of the Vatican City State, the Secretary General of the Secretariat for the Economy, the Promoter of Justice at the Tribunal of the Vatican City State, the Auditor General, the Director of the Financial Information Authority, the Director of the Security Services and Civil Protection of the Governorate, and the Commandant of the Pontifical Swiss Guard.