VATICAN CITY
RTE News
The Vatican bank asked Italy today to resume normal banking relations, which have been effectively frozen since 2010.
It said it had made great progress with new anti-money laundering provisions.
“The bank looks forward to a resumption of full interaction with Italian financial institutions pending review by Italian regulatory authorities of the Holy See and Vatican City State’s anti-money laundering provisions,” a report said.
Italian banks stopped dealing with the Vatican bank in 2010 after the central bank told them they had to enforce strict anti-money laundering criteria if they wanted to continue transacting with it.
A status report on the bank’s reform efforts also said the head of the bank ordered several special investigations in 2013 into suspicious accounts as part of its programme to improve transparency and thwart more attempts to launder money.
Note: This is an Abuse Tracker excerpt. Click the title to view the full text of the original article. If the original article is no longer available, see our News Archive.