COUNCIL of Europe inspectors have visited the Vatican to monitor its plans to tighten money laundering regulations.
The group from the Moneyval committee "met with representatives of Vatican authorities dealing with the issue of prevention and fight against money laundering and terrorist financing," a statement from the Vatican said.
The group, composed of legal, financial and law enforcement experts from five countries, arrived on Monday and left overnight, the statement said.
They are expected to present a report with their findings at a plenary session of Moneyval "presumably in the middle of 2012," the Vatican said.
Pope Benedict XVI last December created a new financial authority following an embarrassing investigation of Vatican bank officials by Italy.
The Vatican also approved a law from April imposing sentences of up to 12 years in prison for money laundering and 15 years for terrorist financing.
In September last year, Italian authorities launched an investigation into and seized assets linked to the Institute for Religious Works (IOR) - the official name of the Vatican bank - for alleged violation of money-laundering rules.
The Vatican has also been excluded from an international "white list" of countries compliant with strict financial controls.
The new financial authority is aimed at bringing the Holy See in line with new global standards.
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