VATICAN REFORMS AML PROCEDURES – BUT PROGRESS REMAINS MURKY
December 1st, 2012
BY KEITH NUTHALL AND LEE ADENDOORF, IN LUCCA, ITALY
On paper, the anti-money laundering procedures of the Holy See and the Vatican City State are being strengthened by an almost hasty reform process. And a recent report from European regional AML body Moneyval has welcomed the progress, albeit with some caveats. Yet, the conviction of Paolo Gabriele, the former butler of Pope Benedict, and his 18 month prison sentence for the aggravated theft of personal papers, which he leaked to an Italian journalist, goes against this grain of financial transparency. ...
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