The State
Department's annual International Narcotics Control
Strategy Report released Wednesday identifies the
Holy See as one of 68 countries or jurisdictions "of
concern" for money laundering or other financial
crimes. Officials said the Vatican is on the list
because it isn't clear whether a year-old anti-money
laundering regime is effective.
The report, which
places Belgium, Ireland, Portugal and South Korea on
the same list, identifies countries that may be
vulnerable to money laundering. It looks at national
laws to fight financial crime, their enforcement and
the size of the banking sector. Major economies,
including the U.S., Britain and Japan, are
identified as countries of primary concern for money
laundering.