The Holy See Gets a Positive Evaluation from Moneyval
On November 6, 2017, the plenary assembly of Moneyval – the committee of experts for evaluating measures against money laundering and the financing of terrorism – approved the Vatican City State’s third progress report.
Moneyval hailed the “progress the Holy See has made over the course of the past two years”, explained the press release from the Holy See Press Office on December 8, 2017.
Moneyval had a particular mention for the creation of a specialized police unit for investigations on economic and financial crimes, and the nomination of a specialized assistant Promoter of Justice. They also confirmed that the Financial Information Authority is working efficiently as both a financial intelligence unit and as supervisor of the one financial entity in the Holy See.
The Committee of Experts did, however, point out that there is still room for further improvement, particularly in the judicial and legislative fields.