Loading...
Loading...
Click here if you don’t see subscription options
Msgr. Antoine Camilleri, undersecretary for relations with states and head of the Vatican delegation to the Moneyval plenary, is pictured during a 2013 news conference in Rome. (CNS photo/Giancarlo Giuliani, Catholic Press Photo)

The Holy See and Vatican City State have continued to strengthen their institutional, legal and operational frameworks for combating money laundering and the financing of terrorism, an international monitoring organization said.

"Moneyval"—the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism—approved the Vatican's report on its efforts Dec. 8 during a meeting in Strasbourg, France. The committee also issued an assessment of the Vatican's report, which was expected to be published by mid-December, a spokesman for Moneyval told Catholic News Service Dec. 9.

The report and assessment are "part of the ordinary reporting process foreseen in the Rules of Procedure of Moneyval for all member states," the Vatican said in a statement Dec. 9.

"The latest progress report confirms that the Holy See has established a functional, sustainable and effective system, aiming at preventing and fighting financial crimes," said Msgr. Antoine Camilleri, under-secretary for relations with states and head of the Vatican delegation to the Moneyval plenary.

In 2010, the Vatican began a process of drawing up new finance laws, regulations and criminal penalties in an effort to better comply with international standards in the fight against money laundering and against financing criminal and terrorist networks. The Vatican requested the Moneyval evaluation in 2011 to help it develop tougher laws.

A key focus of the Moneyval evaluations has been encouraging the Vatican to strengthen the ability of its Financial Intelligence Authority to set policy to prevent financial crimes, to freeze assets when suspicious activities occur and to audit financial transactions throughout Vatican City. 

Stricter monitoring of the Institute for the Works of Religion, commonly known as the Vatican bank, and the Administration of the Patrimony of the Holy See, which handles Vatican investments and real estate holdings, has been a particular concern to Moneyval.

Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
Rowan Webb
8 years 11 months ago
It's good to hear that there are active monitors and checks going on when it comes to money that flows in and out of the Vatican bank. Considering what the Vatican stands for, it would be devastating if anything less than a pristine account was discovered! If that isn't a reason to make sure that everything is in order then I don't know what is! http://financesmarter.com.au/about/

The latest from america

Pope Leo XIV has appointed the French archbishop of Chambéry, Thibault Verny, as the new president of the Pontifical Commission for the Protection of Minors. He succeeds Cardinal Seán O’Malley, 81, the emeritus archbishop of Boston.
Gerard O’ConnellJuly 05, 2025
U.S. House Speaker Mike Johnson, R-La., speaks with other members of the House July 3, 2025, on Capitol Hill in Washington after final passage of U.S. President Donald Trump's sweeping spending and tax bill. (OSV News photo/Jonathan Ernst, Reuters)
“Deep cuts” to SNAP and Medicaid will “inflict real suffering on these families…. SNAP and Medicaid are not luxuries, they are lifelines for millions of children across our country.”
Kevin ClarkeJuly 03, 2025
It was one of the first times Leo has spoken unscripted at length in public, responding to questions posed to him by the children.
The Vatican has named the judges that will preside over the trial of disgraced Father Marko Rupnik.