The U.S. has for the first time added the Vatican to its list of countries considered vulnerable to money-laundering, Reuters reported.
The Vatican is classified as “of concern” along with 68 other countries, according to the report, released Wednesday by the State Department’s International Narcotics Control Strategy.
The list includes 190 countries, divided into three categories: of primary concern, of concern and monitored. The first group consists of countries with some of the largest economies in the world, including the U.S.
“To be considered a jurisdiction of concern merely indicates that there is a vulnerability to a financial system by money launderers,” said Susan Pittman of the State Department's Bureau of International Narcotics and Law Enforcement, according to Reuters.
“With the large volumes of international currency that goes through the Holy See, it is a system that makes it vulnerable as a potential money-laundering center.”
Recognizing its vulnerability, the Vatican recently established programs to prevent financial crimes.
Last year, Pope Benedict adapted new laws intended to help the city state more closely align with international standards on money laundering.
The Vatican seeks to make the European Commission’s list of states that comply with international standards against tax fraud and money-laundering, according to Reuters.
“Our aim is to make the ‘white list,’ and we are happy that we have been put in the State Department’s less vulnerable category,” said one Vatican official.
In 2010, the Vatican made headlines for a possible money-laundering scandal. Italian prosecutors froze about $33 million of its funds, but the Vatican insisted it did nothing wrong, and the confusion stemmed from a simple transfer of money between its own accounts.
The funds were released but the investigation is continuing, Reuters reported.
rmurray@nydailynews.com
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