Vatican City Country Summary
Medium-Low Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Lower Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
The Vatican City is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Vatican City was undertaken in 2024. According to that Evaluation, the Vatican City was deemed Compliant for 5 and Largely Compliant for 30 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness ratings.
Sanctions
There are currently no international sanctions in force against Vatican City State (Holy See).
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Vatican City State (Holy See) exhibits a unique landscape regarding crime and corruption, characterized by its small size and the distinct nature of its governance. While specific metrics on corruption are not available, the Holy See's resilience to crime is bolstered by its strong institutional framework and the close-knit community that fosters transparency and accountability.
Economy
Vatican City State operates a unique economy primarily driven by tourism, donations from Catholic believers, and the sale of postage stamps and souvenirs, without imposing traditional taxes. The financial landscape is further supported by the Vatican Bank, which engages in global banking operations, while the state uses the euro and issues its own coins, appealing to collectors. Although the investment climate is stable due to its focus on religious and cultural tourism, the limited scale of the economy and the absence of publicly available financial data restrict broader investment opportunities.
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