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After Alleged Compliance Concerns, Bankers Await Vatican AML Report
By Bennett Voyles
printFor a territory with a population of 829, many of whom are sworn to poverty, chastity, and obedience, the Vatican has always had more than its fair share of financial intrigue. But now the 110-acre city-state, capital of the 1.2 billion-member Roman Catholic Church, is trying to reform. A year and a half after Pope Benedict XVI ordered Vatican officials to draft anti-money laundering (AML) regulations, how those efforts will be met by the global financial community remains unclear. The Council of Europe's MONEYVAL committee is expected to outline the Vatican's progress in a report due by the end of...
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