Vatican City implements new standards for cooperation against money-laundering
May 07, 2014
The Vatican has agreed to a new set of European standards aimed at the “prevention and combating money-laundering and financing of terrorism.”
Cardinal Giuseppe Bertello, the president of the Vatican City governorate, signed the new order, committing the Vatican to cooperation with international banking authorities. The order fulfills one of the recommendations made by European banking inspectors last October in their assessment of the Vatican’s financial standards.