VATICAN CITY
Vatican Insider
Concerns have been expressed in the report that is to be discussed with the Holy See, over the reorganisation of the body that monitors Vatican finances and the political influence of the Secretariat of State
ANDREA TORNIELLI
Vatican City
The draft report containing Moneyval assessors’ initial observations arrived in the Vatican a couple of days ago but remains top secret. Moneyval is the committee of Council of Europe experts whose task it is to assess measures taken against money laundering and terrorism financing. The assessors were called to evaluate the progress made by the Holy See in getting in line with international regulations. The draft of the report which Moneyval still needs to discuss with Vatican authorities, recognised the areas where progress has indeed been made, but also pointed out some issues that still need to be resolved, including the reorganisation of the role and tasks of the AIF, the domestic financial monitoring authority, which came about when the new transparency law – promulgated last January – came into force. It looks like the Vatican still has a long way to go until it can be added to the “white list” of financially virtuous countries and complete all steps towards the transparency called for by Benedict XVI.
As previously stated, Moneyval’s report is still just a draft: the appraisals of individual assessors have not yet been discussed to provide a jointly agreed set of points. A meeting is due to take place in Strasbourg between 14 and 16 May 2012, to clarify everything. Here, the Vatican delegation will make observations and offer clarifications. There is no doubt whatsoever, however, that the draft’s passages, which define the reorganisation of the AIF and the emphasis on the role and influence of the Secretariat of State as steps backwards, will spark controversy in the Holy See.
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