Pope Francis has revamped the Vatican financial watchdog to establish “supervision aimed at the prevention and countering of money laundering and the financing of terrorism.” Under the pope’s plan, the agency will be split into three parts, the Vatican said on Saturday. They are vigilance, rules and legal affairs, and financial information. The Vatican’s Financial Read more
The Vatican Financial Information Authority says suspicious financial activity in the Vatican has decreased for the second year in a row. The Authority says efforts to help the Vatican comply with international norms for fighting money laundering and terrorist financing are paying off. A report which the Authority released last Friday says 150 suspicious financial Read more
The Vatican prosecutor is being urged to investigate all cases of money laundering and terrorist financing. Moneyval, which is the Council of Europe’s monitoring body, also says the prosecutor should be more “proactive” in other financial crimes. These include corruption, embezzlement and abuse of office. Furthermore, Moneyval says the prosecutor should “actively consider appealing sentences Read more
Suspicious activity “sharply” reduced and Vatican financial transactions became more transparent in 2016, says the Vatican financial watchdog. The Vatican Financial Information Authority (AIF) says over the past year it has entered “growing number of agreements” involving international cooperation and information exchange. These allow information to be shared with other foreign financial intelligence authorities. While Read more