National Catholic Reporter
Apr 27, 2018
by Carol Glatz, Catholic News Service
VATICAN CITY — The Vatican’s financial watchdog agency has reported continued progress in oversight, reporting and cooperation in its efforts to prevent suspected money laundering and the financing of terrorism.
In its annual report for 2017, the Financial Intelligence Authority confirmed a “robust reporting system and an effective application of the regulatory framework of the Holy See and the Vatican City State.”
The agency, which oversees transactions made through the Vatican bank, also continued a “pro-active approach to cooperate and exchange information with its foreign counterparts to fight illicit financial activities,” it said in its report, released to the public April 27.
However, as the agency continues to hand over reports of suspicious activity to the required authorities, very few cases have led to indictments and prosecutions by the office of the promoter of justice at the Vatican City State’s tribunal.
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