Vatican bank may fail transparency test
Moneyval, the Council of Europe’s anti-money laundering experts, is due to rule at the beginning of July on the whether the Holy See has cleaned up its act to international monetary standards.
According to Italian daily newspaper Il Fatto Quotidiano, which claims to have knowledge of the main elements of a report by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, the Vatican is at risk of scoring unsatisfactory ratings for eight out of 16 “key recommendations”.
It would therefore fail to be included on a “white list” of transparent states.
Pope Benedict XVI wanted better transparency for its bank, officially known as the Institute for Religious Works, which handles donations and is where some religious figures hold accounts. [More]