-- Rome -- The European Commission’s financial monitor, MONEYVAL, has issued a highly critical report on the anti-money-laundering and general financial oversight efforts of the Holy See.
Both MONEYVAL and the Holy See describe the report as “positive” and cite “moderate” to “substantial” effectiveness ratings across a range of areas, but note significant room for improvement. "The Holy See welcomes the Moneyval Report," a press release from the Vatican says, and promises also to renew "its commitment to continue working towards full compliance with the best international parameters."
