We are underfunded by over 50% this month. $17,346 short—a serious deficit. Your support needed NOW!
Click here to advertise on CatholicCulture.org

New papal document tightens safeguards against money-laundering

Catholic World News - August 08, 2013

Pope Francis has tightened safeguards against money-laundering at the Vatican, issuing a motu proprio that tightens internal regulations and establishes a new Financial Security Committee to coordinate financial transfers.

The new motu proprio, made public August 8, is aimed at “the prevention and countering of money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction.” In the document the Pope extends the rules that were set in place by Pope Benedict in 2010, applying them to all Vatican institutions. The rules had previously applied to Vatican institutions engaged in financial affairs; they now apply to all institutions that make financial transfers.

The motu proprio also strengthens the power of the Financial Information Authority, giving it supervisory authority over all agencies “habitually engaged in financial affairs.” The papal document notes that this step is a response to a recommendation made by European banking officials.

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 January expenses ($17,346 to go):
$35,000.00 $17,653.70
50% 50%
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
Click here to advertise on CatholicCulture.org
Shop Amazon

Recent Catholic Commentary

Snowbound thoughts on natural law 2 hours ago
The best argument against the 'celibate gay Catholics' 16 hours ago
Church Fathers: St. Polycarp and St. Papias January 24
On News Both Good and Fun January 23
Guess who thinks Pope Francis shouldn't give so many interviews? January 23

Top Catholic News

Most Important Stories of the Last 30 Days
Pope Francis names 20 new cardinals CWN - January 5
In ‘state of the world’ address, Pope decries ‘throwaway culture’ CWN - January 12