Vatican expected to win passing grade from European banking inspectors
Catholic World News - July 16, 2012
European banking inspectors will give the Vatican a satisfactory rating for financial transparency, while suggesting some steps for further reform, the Reuters news service reports.
That report matches predictions made by informed sources earlier this month, when the inspectors from “Moneyval” disclosed that they had completed a preliminary report and given it to Vatican officials. The report will be made public after the Vatican has reviewed it and had an opportunity to clear up any misunderstandings.
The Moneyval inspection, which was requested by the Vatican, is a step toward ensuring that the Vatican complies with tough new European standards for documenting financial transactions, to guard against money-laundering. Like an audit, a Moneyval inspection generally produces some suggestions for improvement.
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 September expenses ($33,073 to go):
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!