VATICAN CITY
Europe Online Magazine
Vatican City (dpa) – The Vatican has done “much” to improve clean up its track record on the fight against money laundering and terrorist financing, the Council of Europe said Thursday.
In recent years, the Vatican has been trying to turn a page over the financial scandals that have dogged its bank, the Institute for Religious Work (IOR), which has been linked to the Sicilian mafia and other criminal groups.
“It is clear from this review that much work has been done in a short time,” the council‘s Moneyval committee said in a report, which was approved Monday but published only three days later.
It checked progress against a more comprehensive July 2012 report, where Moneyval experts concluded that the Vatican was meeting only nine out of 16 international core financial transparency standards.
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