Pope Francis Takes Next Steps for Transparency of Vatican Bank

transparent_pig_250Pope Francis has vowed to take on the “third rails” of Vatican power: the Roman Curia and the Vatican Bank.

From news this week, he’s moving forward on cleaning house in the Vatican Bank! All of this is in line with the document released by the Pontifical Justice and Peace Council a few years ago on reforming global finance, a document that was sort of buried until Pope Francis started acting out of it. Here’s an excerpt from the Vatican Information Service release:

“The Holy See Press Office issued a press release on May 8 with the information that the Financial Intelligence Authority of the Holy See and Vatican City State (“Autorita di Informazione Finanziaria”, AIF), signed a Memorandum of Understanding that day, 7 May, in Washington, D.C., USA. The memorandum’s cosignatory was the Financial Crimes Enforcement Network (FinCEN), its United States counterpart at the US Department of Treasury. The purpose of the collaboration is to strengthen efforts to fight money laundering and the global financing of terrorism.

The Memorandum, signed by Rene Brulhart, director of AIF, and Jennifer Shasky Calvery, director of FinCEN, will foster bi-lateral cooperation in the exchange of financial information. “This is a clear indication that the Holy See and the Vatican City State take international responsibilities to combat money laundering and the financing of terrorism very seriously, and that we are cooperating at the highest levels”, said Brulhart. “The Vatican has shown that it is a credible partner internationally and has made a clear commitment in the exchange of information in this fight.”

Read more.
Read more on the the Justice and Peace document for reforming global finance.

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