News Summary: Vatican publishes financial report

News Summary: Vatican releases 1st report of financial watchdog, transparency issues remain

Associated Press

ACCOUNTABILITY: The Vatican published the first annual report from its financial watchdog agency and announced new regulations to fight money laundering and terror financing.

DETAILS: The report from the Financial Intelligence Authority showed the agency received six internal reports on suspicious transactions in 2012 and said it forwarded two to Vatican prosecutors for investigation.

LIMITATIONS: But the 10-page report made scant mention of any supervisory operations carried out in 2012. The Vatican created the oversight agency in 2010 in a bid to shed its image as a secretive tax haven and improve its reputation in global financial circles following a series of scandals at its bank.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.