Vatican passes financial transparency test
The Vatican has passed a key European financial transparency test but received poor grades for the effectiveness of its new financial watchdog agency and the ability of its bank to track suspicious transactions.
The Council of Europe report released on Wednesday showed that the Vatican had received compliant or largely compliant grades on nine of the 16 "key and core" internationally-recognised recommendations to fight money laundering and terrorist financing.
But seven other areas were found sorely lacking.
The so-called Moneyval committee praises the Holy See for making so much progress in a short amount of time, but says more work needs to be done.
In particular, it says the Vatican bank, long the subject of rumour and scandal, should be independently supervised.
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Francis Sammut
Jul 18th 2012, 19:49
''The Vatican had received compliant or largely compliant grades on nine of the 16 ''key and core'' internationally recognized recommendations to fight money laundering and terrorist financing!''
Just 9 out of 16 compliant grades, involving ''money laundering and terrorist financing?'' And how long has this state of affairs been going on, may I ask?
I tell you sir, I'm a Catholic and had never before felt ashamed to admit it, but now I do feel ashamed!
'Something's rotten in the state of Denmark!'
Anthony Charles Abela
Jul 18th 2012, 14:59
The usual Vatican hype still goes on. What I cannot understand is why were the FBI who went to the Vatican to talk to Monsignior Markinkus, who passed away about 2 years ago or so, were barred from doing so by denying them entry into the Vatican to talk to Markinkus regarding a billion dollar money laundering in th USA. This is why people all over the world are sceptical about the Vatican real intentions on pedophile priests.To-day the state government of Victoria has stated that it is considering passing legislation that will make it compulsery for priests to report people who confess to law breaking activities especially, murder, pedophilia and other serious offences. It is thought that this is to force priests when their own kind confess to other priests about children sexual molestation. The media did a poll on it and for every one that said priests should not be asked anyhting in confidence of confession, four people said they should be held accountable. A.C.Abela Melb. Aust.
Carmel Borg
Jul 18th 2012, 15:36
Whatever legislation the state of Victoria will pass in the regard of confession, rest assured that it will fail:
1) It is a sacrilege for priests to do so
2) Priests will either be persecuted or forced to leave the state
3) The above shall mean that from freedom of faith or no faith at all, one is forced to practice atheism
4) Even if priests dump their religious obligation, it will be a failure...who will confess to a priest knowing that he is obliged to report him / her
Some people talk about the Church forcing its' teaching. Hypopcrites, These non believers are trying to force us be like them!
M Cachia
Jul 18th 2012, 16:10
In other words you are suggesting that priests brerak an oath made before God, for a sacrement founded by Jesus Christ himself. I think if a state enforces this it would be tantamount to religious persecution!
Please choose the reason of your report below: