Vatican Toughens Financial Controls

As part of the Vatican’s ongoing efforts to ensure that all its financial activity complies with international standards, particularly those aimed at preventing money laundering and possible financing of terrorism, Pope Francis has expanded the role and the reach of the Vatican’s Financial Intelligence Authority. Pope Francis issued new rules on Aug. 8 broadening Vatican City finance laws to cover all the offices of the Roman Curia, including nonprofit organizations operating out of the Vatican, like Caritas Internationalis and Aid to the Church in Need. Pope Francis also added “the function of prudential supervision” to the responsibilities of the F.I.A. The Vatican spokesperson, Federico Lombardi, S.J., explained that the Vatican is trying to ensure that it is not a “potential weak spot” in international efforts to crack down on money laundering, terrorism financing and the proliferation of weapons of mass destruction.

Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.

Advertisement
Advertisement

The latest from america

Protestors march to support a U.N. anti-corruption commission in Guatemala City on Jan. 6. Photo by Jackie McVicar.
“What they are doing not only puts Guatemala at risk but the entire region. Bit by bit, for more than a year, they have been trying to divide us. The elections are at risk. We are six months away.”
Jackie McVicarJanuary 18, 2019
“We will just do what we need to do to help people in need,” said Antonio Fernandez, C.E.O. of Catholic Charities for the Archdiocese of San Antonio.
Emma Winters January 18, 2019
The study found Latina immigrant women in Arizona who were pregnant during the contentious S.B. 1070 passage had babies with lower birthweight compared with those in prior years. Average birth weights did not decrease among U.S.-born white, black or Latina women during the same time.
J.D. Long-GarcíaJanuary 18, 2019
This week's guest is Destiny Herndon-De La Rosa, founder of New Wave Feminists, a pro-life feminist organization dedicated to changing the divisive language surrounding the abortion debate.
Olga SeguraJanuary 18, 2019