Pope Benedict Signs Vatican Laws to Comply with International Standards

It just makes sense that the smallest private country (or sovereign state) in the world should comply with the international laws if for no other reason than to prove that they aren't hiding anything. Pope Benedict just signed an executive order guaranteeing adherence to the guidelines. I think it's about time that transparency is established in the Catholic Church.
    .  .  June

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New Vatican Laws to Comply with International Standards:

The Vatican introduced a set of laws to allow its fraud, counterfeiting, terrorism prevention, and transparency standards to comply with international benchmarks. An investigation on the Vatican bank is currently being conducted due to money laundering concerns.

An executive order or a “Motu Proprio” was signed by Pope Benedict to set up internal laws that guarantees adherence to guidelines and coordinate with foreign agencies by the bank and other units of the Vatican.
This was the Vatican’s most significant move to conform to international requirements of additional transparency in its finances.

According to a statement issued by the Vatican, all organizations connected to the Catholic Church administration will take part in the system of legal standard and means created by the international community in order to ensure fair and sincere coexistence within the gradually globalized world.

The latest Vatican City laws intend to allow it to adhere to the regulations set by the Financial Action task Force, an organization based in Paris which keeps a list of countries that do not conform to the terrorism funding and money laundering standards. Vatican City is a sovereign state within Rome which occupies 108 acres of land.


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