Click here to advertise on CatholicCulture.org

European bank experts visit Vatican, evaluate new financial procedures

Catholic World News - November 28, 2011

European banking experts were in Rome last week for meetings with Vatican officials, as part of the process by which the Holy See is seeking approval as a full partner in European banking accords.

After complaints that the Vatican Bank had violated news European regulations designed to prevent money-laundering and inhibit terrorism, Pope Benedict XVI issued a motu proprio last December that reformed all Vatican financial transactions, calling for more transparency and better documentation of all transfers. The reforms were intended to ensure continued Vatican participation in European banking partnerships.

Between November 21 and 26, Vatican officials received visits from a team of experts from the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL). The discussions were a key part of an evaluation that will be concluded sometime in the middle of 2012.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our July expenses ($15,492 to go):
$35,000.00 $19,508.29
44% 56%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Wanted: a balanced Catholic perspective on immigration 0 hours ago
Renewal with God before Us: Christ Determines All 16 hours ago
Sons of Dominic Prepare for Family Synod July 29
Dominican theologians assess proposals for divorced and remarried July 29
The ‘Pope Francis effect’—changing the way the world sees the papacy July 29

Top Catholic News

Most Important Stories of the Last 30 Days
New management, new changes coming for reformed Vatican bank CWN - July 8
Sweeping reforms to Vatican's media, financial operations CWN - July 9
‘Even Genghis Khan didn’t do this’: Mosul emptied of Christians CWN - July 21