VATICAN CITY
Vatican Insider
The decree issued on 25 January which renewed Vatican financial laws according to the 2010 anti money laundering standards has been confirmed before the 90 day deadline. There has been ongoing controversy over the power given to the Vatican Financial Information Authority (AIF) led by Cardinal Nicora
Andrea Tornielli
Vatican City
Emergency decree No. 159 which contains the new anti money laundering laws published last 25 January has been an ordinary law since last 2 April, when it was confirmed as such by the Pontifical Commission for the Vatican City State. The law is to be published officially tomorrow, one day before the end of the 90 day deadline given for its enforcement (after which it would have lapsed, had it not been approved).
No significant modifications have apparently been made to last January’s version of the text – which Vatican Insider had published in full. The Council of Europe’s Moneyval team (a Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism) is currently monitoring the Vatican’s conformance to international financial standards. Meanwhile, the Vatican is hoping to be added to the “white list” of “virtuous” Countries.
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