December 14 2015
The Council of Europe’s anti-money laundering and counter terrorist financing body MONEYVAL today published the second progress report of the Holy See/Vatican City State. The report evaluates its compliance with the recommendations made by MONEYVAL in its Mutual Evaluation Report in July 2012 and its first progress report in December 2013.
MONEYVAL concludes that the Holy See has addressed most of the technical deficiencies in its legislation and regulations. However there is a need now for the anti-money laundering and counter terrorist financing system to deliver effective results in terms of prosecutions, convictions and confiscation.