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Catholic World News

Vatican officials meet European banking investigators

March 20, 2012

Vatican officials have continued their drive to secure accreditation from European banking authorities, meeting last week with representatives of MoneyVal, the arm of the European Council that evaluates the security of bank systems.

Since adopting a new set of rules governing financial transfers, the Vatican has been battling to overcome persistent complaints that the Vatican bank is vulnerable to exploitation by money-launderers. The meeting with MoneyVal was designed to acquaint European banking officials with the steps the Vatican has taken to implement the new rules and tighten documentation of financial transactions.


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