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Moneyval, the Council of Europe’s anti-money laundering watchdog, concluded its two-week on-site inspection of the Holy See and Vatican City on Tuesday, according to a Vatican statement.
Moneyval arrived at the Vatican on Sept. 30 for the next phase of a regular multi-year evaluation of the institution’s compliance with European financial regulations.
Meetings with the Moneyval committee were “held in a constructive and cooperative atmosphere,” the Vatican said Oct. 13, calling the inspection “a further important step of the evaluation process.”
The purpose of this stage of the inspection was to judge the effectiveness of the Vatican and Holy See’s legislation and procedures for combating money laundering and terrorism financing. A big part of that effectiveness comes down to how successful the Vatican has been at prosecuting these crimes in court.
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