VATICAN CITY
RT
Leading experts on money laundering say the Vatican has to embark on important reforms if it wants to embrace financial transparency.
A report from Moneyval, the arm of the Council of Europe which evaluates anti-money laundering and the funding of terrorism, shows the Vatican failed seven of its 16 key criteria, and got just a pass on the other nine. Getting a clean bill of health from Moneyval gets a country on the ‘white list’ of financially transparent countries.
The Holy See has been making efforts to shed its reputation as a shady tax haven long mired in secrecy and scandals.
However, the report says it still has to make important reforms in the Vatican’s financial oversight agency before it could reach international standards on combating money laundering and the financing of terrorism.
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