Pope Francis has made an announcement addressing new approaches for combatting money laundering, reported Rome Reports. The new measures will apply to all Vatican departments that operate within the monetary sector.
Part of the requirements give the Vatican's Financial Information Authority the right to monitor all financial transactions conducted within the Vatican. Before this announcement, the VFIA primarily focused on supervising only the Vatican Bank.
The Pope announced the approval of the new Financial Security Committee, which will prevent and counteract all money laundering activity, terrorism financing and more.