Journal of
Italian
Banking
Association
year 100
Italian
Banking
Association
year 100
Archive » November 2023 » Anti-Money Laundering and reform of the Vatican’s financial system
Anti-Money Laundering and reform of the Vatican’s financial system
Carmelo Barbagallo, Giuseppe SchlitzerNovember 2023 - n. 11
Keywords: Antiriciclaggio, sistema finanziario, Vaticano
Jel codes: K14, Z12
The extensive process of adaptation of the Vatican State to International standards in financial-administrative matters has led to profound changes both on a regulatory level and in the institutional structure of the Roman Curia. Adherence to international Anti-Money Laundering standards and entry into Moneyval in 2011 were followed, since the mid- 2000s, by important initiatives aimed at improving the transparency, correctness and accountability of the jurisdiction, having their focus in the implementation of rigorous spending control mechanisms. The significant steps taken in just over a decade are signs of a path confidently undertaken, whose cornerstones lie in the prevention and early identification of any anomalies and irregularities, and in the increasing efficiency and transparency in the spending mechanisms.
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