Vatican City

Pope issues decree against money laundering

Part of Francis's drive to clean up Holy See's reputation

Pope issues decree against money laundering

Vatican City, August 8 - The Vatican said Thursday that Pope Francis has issued new regulations at the Holy See to combat money laundering, the financing of terrorism and the proliferation of weapons of mass destruction. The regulations, announced in a papal decree known as a Motu Proprio, are part of the pope's drive to clean up the Holy See's reputation on financial transparency. This has been hit by a number of scandals, including several at the Vatican Bank. Francis is keen to remove stains from bank's reputation and get the Vatican onto the 'white list' of countries with unimpeachable credentials by working with the Council of Europe's Moneyval anti-money-laundering agency. Last year Moneyval said in a report the Vatican had made progress on financial transparency but still needed to improve in many areas. The Vatican said the decree strengthens the supervisory and regulatory function of the Vatican's Financial Information Authority. It also gives the Financial Information Authority "the function of prudential supervision over entities habitually engaged in financial activities", in response to a recommendation from Moneyval. The decree also establishes a new body, the Financial Security Committee, for the purpose of "coordinating the competent authorities of the Holy See and the Vatican City State in the area of prevention and countering of money laundering, the financing of terrorism and the proliferation of weapons of mass destruction".

Lascia il tuo commento

Condividi le tue opinioni su Gazzetta del Sud online

Caratteri rimanenti: 400

Le altre notizie

i più letti di oggi