We must raise $703 by March 31st to pay critical bills. Essential to continue our mission. Donate now!
Click here to advertise on CatholicCulture.org

Vatican bank passed transparency test, Italian paper reports

Catholic World News - June 19, 2012

The Vatican bank will receive a passing grade from European banking inspectors after a test of anti-laundering safeguards, according to an Italian daily newspaper.

Corriere della Sera reports that the European inspectors who have been assessing the Institute for Religious Works will give the institution a rating that will enable the Vatican bank to escape from its current status as a “problem” institution.

During the past year the Vatican has been working to implement new rules ensuring transparency in financial transactions. The goal for the Institute for Religious Works has been to qualify for inclusion on a “white list” of banks certified as meeting European standards.

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 March expenses ($703 to go):
$35,000.00 $34,296.96
2% 98%
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!

Show 1 Comments? (Hidden)Hide Comments
  • Posted by: bruno - Jun. 19, 2012 11:15 PM ET USA

    It is great to see them taking the initiative to assure the broader world of their commitment to anti-money laundering. Hopefully, this will put to rest some of the criticism the VB has endured in recent decades.

Subscribe for free
Click here to advertise on CatholicCulture.org
Shop Amazon

Recent Catholic Commentary

Insights on the enigma that is Pope Francis March 27
Our Most Characteristic Vice? March 27
Recognizing the Noonday Devil March 27
Patricia Jannuzzi on gay activists: And the real problem is? March 27
Surrogate parenthood = exploitation of desperate women March 27

Top Catholic News

Most Important Stories of the Last 30 Days
Pope announces Jubilee: a Year of Mercy CWN - March 13