Catholic World News

Vatican reports new strides toward financial transparency

May 21, 2019

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CWN Editor's Note: The Vatican’s Financial Information Authority (FIA) has reported significant new progress toward full transparency, in its annual report for the past year. RenĂ© Bruhart, the president of FIA, said that in 2018 the agency flagged 56 instances of suspicious financial activity, and sent 11 reports to Vatican prosecutors for further investigation; one such report resulted in the first-ever conviction for money-laundering at the Vatican. The FIA also expanded its cooperation with financial regulators in other countries, and completed the process of entering the Vatican into the Single Euro Payments Area (SEPA).

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