Moneyval praises Holy See’s efforts against money laundering, but raises ‘red flag’
May 09, 2022
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CWN Editor's Note: Moneyval, the agency of the Council of Europe that combats money laundering and the financing of terrorism, has issued its 2021 annual report.
The Holy See’s “authorities have a generally good high-level understanding of their money laundering and financing of terrorism threats and vulnerabilities,” according to the report (p. 16). “However, domestic cases which have raised a red flag for potential abuse of the internal system by mid-level and senior figures (insiders) for personal or other benefits have not been addressed within the national risk assessment.”
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