Vatican City

Cardinals discuss Vatican Bank at final pre-conclave meeting

Bertone report touches on Moneyval 'white list'

Cardinals discuss Vatican Bank at final pre-conclave meeting

Vatican City, March 11 - Cardinals in the final day of meetings before voting for a pope in the conclave discussed issues at the troubled Vatican Bank. Vatican spokesman Father Federico Lombardi said "a brief report" on the Bank, also known as the Institute of Religious Works (IOR), was presented by Cardinal Tarcisio Bertone, the secretary of state during the papacy of Benedict XVI. Lombardi said the report addressed the "process of integrating with Moneyval," which is the Council of Europe's committee on financial transparency. The Vatican has been making efforts to comply with Moneyval in order to join the 'white list' of states that respect international standards on combating money laundering and the financing of terrorism. One high-profile controversy during Benedict's papacy involved the Vatican Bank, whose head was sacked amid a push to get it on the UN's list of countries with flawless anti-money-laundering credentials.

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