We have $162,320 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 president discusses progress in combating money laundering

Catholic World News - 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.

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 ($162,320 to go):
$200,000.00 $37,679.72
81% 19%
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.

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

Recent Catholic Commentary

A secret plot to control the Synod? No; it's not secret at all. 13 hours ago
What about Catholic affirmation for those in false marriages? 14 hours ago
Free eBook: Pope Francis' Catechesis on the Family October 7
The headlines say Gov. Brown is Catholic. He says he's not sure what that means. October 7
Archbishop predicts Synod won't change Church teaching. Why am I not reassured? October 7

Top Catholic News

Most Important Stories of the Last 30 Days
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
As Synod opens, Pope calls on Church to defend ‘unity and indissolubility’ of marriage bond CWN - October 5