Click here to advertise on CatholicCulture.org

British ambassador praises Vatican bank’s steps to address money laundering

Catholic World News - May 18, 2012

Following a briefing at the Vatican bank--the Institute of Religious Works (IOR)--Ambassador Nigel Baker praised the Holy See’s efforts to conform to international financial norms against money laundering.

“Even the most respectable, well-run bank or financial institution in the world will have some vulnerabilities, there’s no such thing as an invulnerable bank or financial institution, as we’ve had to see recently on Wall Street and elsewhere,” said Britain’s ambassador to the Holy See. “I think one of the objectives of the board of IOR is to show that they have modern procedures in place and they are as resistant as any other well run financial institution to being misused. It’s for others to judge whether they have reached that goal or not, but I think it’s very important that they are trying to go down that route.”

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 October expenses ($33,337 to go):
$35,000.00 $1,663.25
95% 5%
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
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

On Bishops and Jesuits, Saints and Angels 18 hours ago
Bishop Finn in Kansas City: Not quite up to date? 19 hours ago
Oh, that sort of misconduct [UPDATED] September 29
Don’t worry about terrorism; worry about workplace violence? September 29
Doing Great Things for Christ September 29

Top Catholic News

Most Important Stories of the Last 30 Days
Cardinals criticize Kasper proposal, escalating debate on remarriage/Communion CWN - September 18
Cardinal Parolin: UN must protect innocents from Islamic State CWN - September 30