We have $168,671 to go in our Fall Campaign. Every penny is used to strengthen the Church. See details!
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!

Our Fall Campaign
Progress toward our year-end goal ($168,671 to go):
$200,000.00 $31,328.72
84% 16%
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.

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

Recent Catholic Commentary

Preparing for the Synod on the Family October 2
Making sense of the Pope's message to America-- including the Kim Davis meeting October 2
Coming of (old) age under Obamacare: a rant October 1
1971: The best of times, the worst of times October 1
How Christianity spreads around the globe September 30

Top Catholic News

Most Important Stories of the Last 30 Days
Pope issues new rules to streamline annulment process CWN - September 8
In Cuba, Pope emphasizes service to the vulnerable, praises thaw in US-Cuban relations CWN - September 21
Pope challenges America in speech to US Congress CWN - September 24