ROME — The Vatican is planning to unveil new rules today aimed at countering financial crimes and making its financial activities more transparent in the wake of a recent probe by Italian prosecutors into whether officials of the Holy See’s bank violated Italy’s anti-money-laundering laws.
In a statement, the Vatican said it would create a new financial watchdog — the Authority of Financial Information — and also would unveil new legislation to prevent money laundering and terror financing.
“Tomorrow’s law is proof that the Holy See has been working since 2009 towards entering the white list,” said Vatican bank lawyer Vincenzo Scordamaglia, referring to countries that have transparent banking and strong anti-money-laundering rules. The Wall Street Journal; photo: Getty Images
