It Just Got Tougher to Launder Money in Vatican

Will exchange financial info with US under new deal
By Ruth Brown,  Newser Staff
Posted May 8, 2013 8:47 AM CDT
Italian financial Police officers talk to each other with St. Peter's Basilica at the Vatican in the background.   (AP Photo/Angelo Carconi, File)

(Newser) – The Vatican is continuing efforts to scrub its financial reputation: It yesterday inked a deal with the US in which each will share information about financial transactions, the Wall Street Journal reports. The move is intended to help surface any money laundering. The Vatican Bank came under heavy scrutiny during a 2010 laundering probe and has since been trying to make over its image and financial system with a series of reforms. "This is another step forward in the process that the Vatican initiated in 2010 and shows that we take this seriously," said the director of the Vatican's financial watchdog. The Journal notes the Vatican hopes to institute similar deals with another 20 countries. (Read more Vatican stories.)

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