Monday, March 12, 2012

Vatican Makes Money Laundering List Of U.S. State Department

       The article discusses the legal  issue surrounding the speculations of their being possible concerns of money laundering taking place within this institution. Although the report relates that the vatican is not at high risk concern or the most popular group on the list it is unfortunate to have such accusations place on a institution such as the Vatican. Religion and Legal social issues seem to come up often in social issues. But to question the legitimacy of a religious group is very sketchy and less trustworthy.
   Looking back at the text from the books the Mormon Question and Was America Founded as a Christian Nation. These books related religious ideas as defining and establishing the means of morality in society that influence the acceptance of such groups practice such as the Mormons polygamy. The problem with the Vatican being placed on this list is that it reflects negatively on public perception of religious organizations. What the article tells us is that the Vatican is under consideration of possible money laundering operations with more vivid details that explain why.
The reason they have been added was because of the access of large funds that circulate through the ‘Holy See”. This vulnerability in the financial structure presents situations that may form corruption or susceptible to money launderers.
   I take notice of the action that the Pope and Vatican has taken to correct this problem. By creating a new system of transparency of the transactions the Vatican bank takes it reflects a sense of nobility on their part. Their actions may foreshadow past reports of corruption and possibly get the Vatican on the “white List”. This list is particularly different from the U.S.State Departments list. It includes groups that comply with international regulations and standards to prevent financial crimes that the Vatican is being reformed to.
  I do believe that the Vatican may not be as corrupt as people suspect it to be and that they have made an effort based on the details of this article to display their aim to refrain from financial crimes.  


crunchycheetos said...

This article brings up several issues.
1. Regardless of the Vatican's money practices; does the US government have ANY say-so in Catholic religion in another country? In short, I think not.

2. The Vatican should not act as if they are doing something significant by being transparent. Any entity (government or non-government related) should be transparent with their spending if they are taking ANY money, donations or contributions from people. However, I realize this would be based on an American view and should not be prescribed to alleviate issues globally.

Preston L.

Sachin G said...

yes, the charges of money laundering on the Vatican in a way is big issue for public perception of this religious institution. But i do not believe that they would be corrupt in any way, because these people are described as "Holy People" or the "men of god". It is a good thing that Vatican took action and corrected the problem to be more transparent. Thats just the way every religious institution that takes donations should be.