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Vatican hires consultant to strengthen defenses against money-laundering

Catholic World News - September 11, 2012

The Vatican has hired an expert consultant to strengthen its safeguards against money-laundering.

In July an appraisal by European banking investigators, the Moneyval group, gave the Vatican passing grades for transparency, but called for further steps to reduce the possibility of money-laundering. Reponding to the Moneyval suggestions, the Vatican has engaged Rene Bruelhart, a Swiss lawyer who has been heading the financial-investigations unit of Liechtenstein’s government.

Bruelhart is regarded as one of the leading international figures in detecting and preventing money-laundering and the financing of illegal and terrorist activities. Bruelhart has already begun working with Vatican officials, helping to beef up defenses against illicit financial activities.

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