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News Summary: Vatican passes clarity test

PASSING GRADE: A Council of Europe report showed that a Vatican perceived compliant or mostly agreeable grades on 9 of a 16 “key and core” internationally famous recommendations to quarrel income laundering and terrorist financing.

WHY IT MATTERS: Passing a exam is seen as a miracle in a Holy See’s efforts to strew a repute for financial secrecy and scandal.

SOME AREAS FAIL: Seven areas were found lacking, quite concerning a Vatican’s financial oversight agency, combined in 2010. The news found critical problems with a agency’s purpose as a administrator or regulator of a Vatican’s finances, giving it a unwell grade.

Source: Article Source

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