Wednesday, March 21, 2012

Latest visit of the Anti-Money Laundering inspectors is over

The latest visit to the Vatican by  the inspectors of Moneyval, the European Council’s group that evaluates the effectiveness of the measures against money laundering used by European member states, has come to an end.

The inspection, similarly to what happened last November, lasted a whole week and included talks with the representatives of the Vatican financial bodies and of the bodies that deal with money laundering measures and prevention, including the Aif  (Vatican Financial  Prefecture for the Economic Affairs, Apsa and the Governatorate), the Prefecture for the Economic Affairs, Apsa and the Governatorate.

The new inspection is part of the Moneyval evaluation procedure which has taken place upon request of the Holy See itself after the promulgation of law n.127, on the 30th of December 2010 . 

The law became effective on the 14th of September last year with the issue of a preliminary document illustrating the legal framework of the Holy See and of the Vatican City State and the initiatives take to meet international standards in the fight against money laundering and terrorism financing.

Moneyval’s final evaluation results which will decide whether the Vatican can be admitted, as it hopes it can, in the Oecd’s ‘White list’, a record of financially virtuous countries, were expected by May, but might shift by a few months.