The next step: implementing the new rules

Prof. Marcello Condemi teaches economic law at Rome’s Marconi University.
He spoke with us about how the norms are to be put in place.

Here is a transcript of his comments:

I would say at this point, the next step is to begin to talk with international organizations that deal with money laundering and counter terrorist financing. The Holy See has already made contact with the Paris-based inter-governmental agency known as the Financial Action Task Force – or FATF, in order to start a verification phase of talks leading to the verification of the quality of the new law, and apt to suggest any fine-tuning than might be required. So having already made contact, the thing to do now - in light of this new law, this new regulatory apparatus - is to continue along this road in order also to participate as full partners in these international organizations, and possibly even to take part in their work, so that the Vatican can coordinate with these organizations to improve legislation and then to travel that stretch of road, which it has yet to travel in order to enter the so-called "White List" of countries, whose money laundering controls are on par with those of EU members. On the basis of existing legislation should be fairly straightforward.

Listen to Prof. Condemi's comments: