Giovedì, 18 Ottobre 2018

Major report on Vatican bank to be released in December


Vatican City, April 10 - The Holy See will deliver
a complete report in December on measures being developed at the
Vatican's bank to fight money laundering and terrorist
financing, Vatican Radio reported Wednesday.
The Vatican is continuing to work with the Council of
Europe's Moneyval agency on an evaluation of national measures
to meet global standards, and will deliver a progress report in
December, according to Vatican Radio.
That report is also expected to include "a more complete
overview of the measures taken in the last year to further
strengthen its institutional framework in prevention of money
laundering and financing of terrorism".
In a damning report last July, Moneyval said the Holy See
had made some progress on financial transparency, but complained
that many more reforms were needed.
It gave the bank - also known as the Institute of Religious
Works (IOR) - positive grades in only nine of 16 areas.
Since then, the Vatican says it has been making efforts to
comply with Moneyval in order to join the 'white list' of states
that respect international standards on combating money
laundering and the financing of terrorism.
Last September, it hired a Swiss expert to help it fight
money laundering more effectively.

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