The Vatican has yet to formally commit to financial transparency, the Organization for Economic Cooperation and Development said one week after Italian magistrates opened a probe into its bank for alleged violations of money-laundering laws.
While the Holy See said last week that it’s in talks with the OECD about getting on the Paris-based group’s so-called White List of nations that comply with global norms, it has not taken the first step toward transparency, said Jeffrey Owens, head of the OECD’s Center for Tax Policy and Administration.
This is a failure to even reach the first rung of regulation.
And that’s just not good enough.
Come on guys….walk the talk. Or live the prayer, if you like.
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I agree Richard. There have been rumours about this bank for a long time and there was a case just before last Christmas which I think was part of the reason for them bringing in a new guy. They do seem to show that they want to be clean and meet international standards but there is just no action…I find that strange…if they have nothing to hide then they have nothing to fear.