Vatican’s bank moves to lift veil of secrecy

The Vatican's Institute for Religious Works (IOR) opened its doors to reporters on the 28 June 2012.

The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) team responsible for the evaluation of the Holy See (including Vatican City State) undertook a second onsite visit between 14 and 16 March 2012. This visit was part of the ongoing process of discussion and clarification of the information that has been provided. The team again met representatives of the competent authorities. The report was to be discussed at the 39th Plenary meeting of MONEYVAL on the 2-6 July 2012.

In 2013 the new President of the Vatican Bank, Ernst von Freyberg, siad that the bank would launch its own website and publish its annual report in an effort to increase transparency.

He also said the IOR had also hired an auditing firm to make sure it met international standards against money laundering.

Council of Europe: Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) http://www.coe.int/t/dghl/monitoring/moneyval/

Council of Europe: Moneyval: Holy See http://www.coe.int/t/dghl/monitoring/moneyval/Countries/HolySee_en.asp

BBC News, 28.6.12: Vatican Bank seeks to counter image of secrecy http://www.bbc.co.uk/news/world-europe-18631950

Wikipedia: Institute for the Works of Religion http://en.wikipedia.org/wiki/Institute_for_the_Works_of_Religion

Reuters, 16.05.13: Vatican Bank to publish yearly report, launch website http://www.reuters.com/article/2013/05/16/us-pope-bank-transparency-idUSBRE94F0JH20130516

BBC News, 02.07.13: Vatican bank director and deputy resign amid scandal http://www.bbc.co.uk/news/world-europe-23138680

Deutsche Welle, 02.07.13: Vatican bank directors step down http://dw.de/p/18zw4

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