MONEYVAL publishes a report on the Holy See
Holy See has made progress in combatting money laundering, but needs to step up efforts to obtain prosecutions.
MONEYVAL published today the third progress report of the Holy See/Vatican City State. The report evaluates the Holy See’s compliance with the recommendations made by MONEYVAL in its Mutual Evaluation Report in July 2012 and developments since the last progress report submitted in December 2015. MONEYVAL recognised that – judging from a desk-based review – the Financial Information Authority (AIF) seemed to be working efficiently as both a financial intelligence unit and as supervisor of the one financial entity in the Holy See.
In the past two years, the Holy See has established a functioning reporting system. Both the AIF and the judicial authorities have sought and were responding to international cooperation requests in their work.