Vatican Bank pledges compliance with anti-money laundering rules

Tweet The Institute for Works of Religion, commonly known as the¬†Vatican Bank, has pledged to implement anti-money laundering legislation based on the FAFT Recommendations that would require it to report suspicious transactions, ascertain the identity of their clients, report large transactions and establish an anti-money laundering compliance regime. The Vatican Bank has also agreed to […]

Vatican Bank being investigated for money laundering

Tweet Italian authorities announced today that they have impounded US$30 million from the Institute for the Works of Religion, or as many call it, the “Vatican Bank”, and placed its top two officers, president Ettore Gotti Tedeschi and director general Paolo Cipriani, under investigation in connection with a money laundering inquiry. The 2005 Directive 2005/60/EC […]