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Vatican Keeps OECD Waiting as Magistrates Probe Bank

The Vatican has yet to formally commit to financial transparency, the Organization for Economic Cooperation and Development said one week after Italian magistrates opened a probe into its bank for alleged violations of money-laundering laws.

While the Holy See said last week that it’s in talks with the OECD about getting on the Paris-based group’s so-called White List of nations that comply with global norms, it has not taken the first step toward transparency, said Jeffrey Owens, head of the OECD’s Center for Tax Policy and Administration.