Ernst von Freyberg, the president of the Institute for Works of Religion (IOR) since February, has told Vatican Radio that the bank has made significant progress in combating money laundering.
“We have used the past year to create the system and to analyze our
customers for possible irregularities,” he said. “By the end of 2013 we
had screened approximately 10,000 client relationships, 8,000 client
relationships remain to do.”
“In 2014, we have a lot of work to do on transparency and compliance,”
“While we have made more progress than was imagined, in
general, last year when we started, we cannot say everything is
“We are waiting for the Holy Father to decide on the definition of the
future mission of IOR, and following his decision, we will then work to
implement that in our operations,” he added.