Pope Francis reforms the Vatican Bank

Pope Francis continues making changes different areas of the Catholic State, this time by reforming the Vatican’s Bank in order to make external audits mandatory and introducing measures to address the banks shortcomings.

Since elected, Pope Francis defined reforming the bank as one of its priorities in order to address the continues scandals linking the bank to organised criminality, tax evasion and corruption.

As an important additional measures, employees are not allowed to have non-clerical activities such as advisors of any kind.



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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