European bank examiners recognize Vatican progress toward financial transparency

December 09, 2015

Moneyval, the committee of European banking examiners, has approved a Vatican report on new financial regulations, acknowledging the progress that the Vatican has achieved toward financial transparency.

Moneyval accepted a Vatican report which “confirms that the Holy See has established a functional, sustainable, and effective system, aiming at preventing and fighting financial crimes,” reported Msgr. Antoine Camilleri, the undersecretary for Relations with States. The Vatican’s report was in compliance with regular procedures for member-states of Moneyval.

In its last response to a progress report from the Vatican, in December 2013, Moneyval had praised the “enormous” progress that had been made in Vatican financial reforms, but said that new rules still had to be put into practice, especially at the Vatican bank, the Institute for Religious Works.

 

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Further information:

• Moneyval approves Vatican progress report on anti-laundering (Vatican Radio)
• Moneyval report praises Vatican financial reforms, awaits practical results (CWN, 12/12/13)