Pope acts to tackle money-laundering in Vatican

Money laundering in the Vatican? No, really? The ever-corrupt Roman Catholic Church continues to be exposed for the corrupt organization that it has always been and will continue to be. Any organization founded on lies and hypocrisy can never be completely “clean.”

Doesn’t the Pope look cute in costume, with his white dress (yes, it’s called a cassock, but I call it a dress) and red loafers? TGO

Refer to story below. Source: Associated Press

VATICAN CITY (AFP) – Pope Benedict XVI created a new financial authority in the Vatican on Thursday in order to join the “fight against money laundering and the financing of terrorism.”

Benedict’s letter, which addressed “the prevention and opposition to illegal financial activity,” comes three months after an investigation was launched into two senior figures at the Vatican bank.

“As of today, all organisations associated with the government of the Catholic Church… have become part of the system of juridical principles and instruments” set up by the international community, Vatican spokesman Federico Lombardi said in a statement.

Lombardi said the Vatican was “committed” to fighting illegal activities such as “the recycling of the profits of crime” and “the financing of terrorism” by adopting international rules “to prevent and combat these terrible phenomena.”

The Vatican’s new financial authority should bring the Holy See in line with international standards.

By promising to adhere to European rules on money-laundering laid down by the Organisation for European Economic Co-operation (OEEC), the Vatican hopes to make it onto the “White list” of countries compliant with strict financial controls.

The changes come after an investigation into the Vatican bank — also known as the Institute for Religious Works (IOR) — for alleged violation of money-laundering rules.

In September, Italy’s financial police seized 23 million euros from IOR after the financial intelligence office at the Bank of Italy noticed two operations by the bank that it deemed suspicious.

About The Great One

Am interested in science and philosophy as well as sports; cycling and tennis. Enjoy reading, writing, playing chess, collecting Spyderco knives and fountain pens.
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