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Positive Progress Report for the Vatican at Moneyval Meeting – ZENIT – English appeared on zenit.org by ZENIT – English.
(ZENIT News / Vatican City, 05.28.2024).- The 67th Plenary Meeting of the Council of Europe’s Moneyval Committee, held from May 20 to 24, 2024, saw the adoption of the Vatican’s First «Periodic Follow-Up Report.» This report assesses the progress made by the Holy See and the Vatican City State three years after the April 2021 «Mutual Evaluation Report.»
The findings of this new report were overwhelmingly positive. Following the favorable 2021 evaluation, the Vatican was placed under a «regular follow-up» process, which has now culminated in this latest follow-up report. The Moneyval Committee reviewed the current regulations of the Holy See and the Vatican City State, focusing on technical compliance with specific recommendations from the Financial Action Task Force (FATF). The Vatican had requested a reassessment of its compliance ratings from the 2021 Mutual Evaluation Report.
The Moneyval Committee acknowledged the significant advancements made by the Vatican in response to the 2021 recommendations. The published report on the Moneyval Committee’s website today confirms that the Vatican has made substantial progress in preventing and combating money laundering, terrorist financing, and the funding of weapons of mass destruction. All the requested compliance ratings have been improved.
As a result, the next technical compliance evaluation is scheduled for four years from now, aligning with the broader context of Moneyval’s «6th Round of Mutual Evaluations» for its member jurisdictions. This positive follow-up report highlights the collaborative efforts of all Vatican authorities and underscores the ongoing commitment to full financial transparency by the Holy See and the Vatican City State.
This achievement marks a continued trajectory of improvement and dedication to international financial standards, reflecting the Vatican’s proactive stance in maintaining robust measures against financial crimes.
Full report here.
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