Vatican updates transparency laws to strengthen financial management catholicnews.com

Continuing its efforts to combat money laundering and financial mismanagement, the Vatican amended its transparency laws and expanded the role of its financial watchdog agency in monitoring financial transactions.

According to a statement released Oct. 10, the Vatican said it updated its legislation, more commonly known as Law XVIII.

Passed in 2013, Law XVIII regulated financial activities and paved the way for collaboration and an exchange of information between the Vatican’s Financial Information Authority, known by the Italian acronym AIF, and its international counterparts, and monitored financial transactions…

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