Vatican City (AP) - The Vatican has passed an important financial transparency, poor test scores, but the effectiveness of the new financial supervisory bodies and their banks have the ability to track suspicious transactions.
The Council of Europe report released Wednesday marks the Vatican's efforts to get rid of its reputation as a shady tax havens, a milestone in the long term into the secrets and scandals.
The report shows that the Vatican received the 16 "key and core of the nine internationally recognized standards or standard grades of recommendations to combat money laundering and terrorist financing.
However, the other seven regions are found to be lacking, especially the financing of terrorism measures and the Vatican's financial regulatory agencies, created with great fanfare in 2010 attempts to address the international community requirements, greater financial transparency.
The report found that the agency did not conduct any checks need to clarify its role, authority and independence. It said that the ability to share financial information with other government adhere to stumble into a bilateral agreement by the Vatican.
The request made by the Holy See, at the local, mainly because it fears that Italy will make a member of the Vatican, the Vatican bank officials, dioceses and religious groups held the account from the unreasonable requirements of the financial information. The Holy See wants to ensure that, if it is to Italy and other information, the mutual agreement will be forced Italy and the Holy See share similar.
The so-called Ad Hoc Committee of Experts Committee praised the Holy See so much progress, in a very short time to comply with the specification, and the Vatican to obtain 49% of the standard complaints or basically in line with the grade as a whole.
However, the report said, need to do more work.
"We take the praise and criticism with the seriousness of the report said," Bishop Ettore Balestrero, Deputy Secretary of State and the Vatican delegation headed by the Ad Hoc Committee of Experts on the Committee.
In particular, it said, the Vatican Bank, the long-standing rumors and scandal, should be independent oversight and who is eligible for the account is maintained rules.
Currently, the bank is led by five cardinals, the Vatican State Secretary supervision.
It said that the lack of the bank's customer due diligence measures in certain areas, especially high-risk transactions. And it is found with the Vatican procedures for failure to report suspicious financial transactions.
Vatican submitted to the Ad Hoc Committee of Experts on the evaluation process, more than two years ago, after the 2009 European Finance Convention "signed. Since then, it has written and rewritten the criminal money-laundering laws, financial supervisory authorities and approval of the three crime prevention, the United Nations treaty, among other measures.
These initiatives by the Financial Action Task Force, headquartered in Paris, decision-making body, to help countries to develop anti-money laundering and the financing of terrorism legislation. Europe's Ad Hoc Committee of Experts on the Governing Council as the Vatican is compatible, basically in line, partially meets or does not meet the safety requirements in each of the Task Force recommendations.
The original 49 recommendations, 16 are considered "critical and core," the Vatican within the limits of a more intensive review and evaluation process, points in the next 8 or more passing grade.
Scraping 9-7 report card, the Vatican is a down-to-earth manner in other countries, the company has been working for many years, and passed the assessment of numerous ad hoc Committee of Experts, will comply with the fight against money laundering Financial Action Task specification.
Alone to improve an area of ??operation to the United Nations anti-terrorism conventions, which requires the Vatican to maintain a list of terror suspects, and it can freeze and confiscate terrorist assets. Vatican scored partially compliant and does not meet security requirements, respectively.
Say, the Vatican said, then create a list of terrorists, the report deadline of January 25. Implemented since that date, as well as some other changes have been Balestrero said, a reference to the footnote in the report of the Ad Hoc Committee of Experts.
The pope himself has said that he hoped that the Vatican's finances in accordance with international principles, that today is terrorism and the global financial system, improper use of a threat to world peace.
Within the assessment process in the Vatican's ad hoc Committee of Experts has been a huge concern, and the source of speculation in Italy, will be, its scandals over the eruption corresponds to suspected corruption in the Vatican financial disclosure of Vatican documents and whether the Vatican's efforts to comply with fighting anti-money laundering norms on the right track.
This process is nearing the end of the Vatican Bank - known as the Institute of religious works - throw to the hybrid launch ushered in the president has brought the Pope, especially in a new era of financial transparency in another wrench in the Holy See See. The bank's board of directors accused is actually an obstacle to a transparency, he did not do his job.



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