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Council of Europe issues report assessing progress by Holy See on measures to combat money laundering

12/12/2013

Council of Europe issues report assessing progress by the Holy See on measures to combat money laundering

Strasbourg, 12.12.2013 – The Council of Europe’s Committee of experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) today published a report presented by the Holy See (including the Vatican City State) concerning the progress it has made to remedy the deficiencies identified by MONEYVAL in its first mutual evaluation report in 2012.

The report was published together with a detailed assessment of this progress by MONEYVAL with regard to the 16 core and key Financial Action Task Force (FATF) Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Recommendations 2003. Both documents were adopted this week at MONEYVAL´S 43rd plenary meeting, and take into account developments up to 30 November 2013.

MONEYVAL concludes that a very wide range of legislative and other measures have been taken in a short time by the Holy See to remedy deficiencies identified by the 2012 MONEYVAL report in all areas of the AML/CFT framework, though certain issues still need to be addressed. (more...)

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