Vatican froze two million euros in 2016

The Vatican froze two million euros last year.

Its aim was to prevent the Vatican state being used as a cover for corruption and money laundering.

The Vatican has enacted a number of provisions to clean up its finances and make them more transparent in recent years.

This has been especially the case since Pope Francis was elected in 2013.

He has given the Vatican Financial Intelligence Authority additional resources to track down on money laundering.

Gian Pietro Milano, who is the Vatican’s Promoter of Justice, said about 13 million euros have been frozen since 2013.

Moneyval, the financial monitoring body of the Council of Europe, said in its December 2015 review that the Vatican had made great strides in cleaning up its scandal-plagued bank and other financial departments.

Moneyval evaluates how a country’s financial legislation and practices comply with international standards, said the Vatican had addressed many previous deficiencies.

But it said the Vatican should be much more aggressive with prosecutions and indictments.

Source

 

News category: World.

Tags: , ,