VATICAN CITY
BBC News
The Vatican bank needs more reform in order to show it is effective at preventing financial crime, a report by a European banking watchdog has said.
The Vatican has tried to gain entry to a so-called “white list” of countries that are recognised globally as financially transparent.
The report said the Vatican’s measures for tackling money laundering and financing of terrorism were inadequate.
However, the bank had “come a long way” in addressing financial transparency.
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