Strasbourg, 18.07.2012 – The Council of Europe’s Committee of experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) today published its first evaluation report of the Holy See (including Vatican City State) .

The report is an evaluation of the implementation of international and European standards to combat money laundering and terrorist financing at the time of the November 2011 on-site visit, but takes into account developments up to 25 January 2012

The report assesses levels of compliance with the FATF 40+9 Recommendations and includes a recommended action plan to strengthen the Holy See’s system of anti-money laundering (AML) and combating the financing of terrorism (CFT).

The MONEYVAL report is neither an investigation into past or present allegations of money laundering and terrorist financing, nor is it an audit of a particular financial institution. However, the evaluators have assessed intensively the effective implementation of the global standards, in particular by the Institute for Works of Religion. (more...)

Link to the report

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