Vatican Bank president discusses progress in combating money laundering
January 23, 2014
Ernst von Freyberg, the president of the Institute for Works of Religion (IOR) since February, has told Vatican Radio that the bank has made significant progress in combating money laundering.
“We have used the past year to create the system and to analyze our customers for possible irregularities,” he said. “By the end of 2013 we had screened approximately 10,000 client relationships, 8,000 client relationships remain to do.”
“In 2014, we have a lot of work to do on transparency and compliance,” he continued. “While we have made more progress than was imagined, in general, last year when we started, we cannot say everything is finished.”
“We are waiting for the Holy Father to decide on the definition of the future mission of IOR, and following his decision, we will then work to implement that in our operations,” he added.
For all current news, visit our News home page.
Further information:
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a current donor, log in to see the comment form; otherwise please support our work, and Sound Off!
