Posts Tagged ‘Money laundering’

Money laundering: Worth more than $1 billion in NZ every year Comments 0

Monday, March 19th, 2018

Overseas criminals seeking to mask their illicit funds are laundering an estimated $1.35 billion at least through New Zealand each year, according to the boss of the New Zealand Police’s Financial Intelligence Unit (FIU). Continue reading Related Posts:New Zealanders give generously – almost $3…Vatican bank’s soaring profitsVatican financial transactions more transparentVatican prosecutor: money laundering investigation needed

Top Vatican bank staff embezzled €50 million Comments 0

Monday, March 5th, 2018

Accusations of embezzling and laundering €50 million have resulted in a former Vatican bank president and his lawyer being ordered to stand trial. The Vatican says the bank’s former president, Angelo Caloia, is the highest-ranking Holy See financial official to be indicted on such charges. Seventy-eight year-old Coloia, along with his lawyer, 94 year-old Gabriele Liuzzo, Read more

Vatican prosecutor: money laundering investigation needed Comments 0

Monday, December 11th, 2017

The Vatican prosecutor is being urged to investigate all cases of money laundering and terrorist financing. Moneyval, which is the Council of Europe’s monitoring body, also says the prosecutor should be more “proactive” in other financial crimes. These include corruption, embezzlement and abuse of office. Furthermore, Moneyval says the prosecutor should “actively consider appealing sentences Read more

Vatican froze two million euros in 2016 Comments 0

Monday, February 20th, 2017

The Vatican froze two million euros last year. Its aim was to prevent the Vatican state being used as a cover for corruption and money laundering. The Vatican has enacted a number of provisions to clean up its finances and make them more transparent in recent years. This has been especially the case since Pope Read more

Vatican bank turns a €23m corner Comments 0

Tuesday, November 25th, 2014

The return of €23m to the Vatican Bank marks a turning point in being accepted again by Italy’s banks. After blocking the funds in a 2010 money laundering investigation, an Italian bank returned the money last week. The Vatican Bank, whose official name is “Institute for Works of Religion” (IOR), said in a statement, the return of Read more

Fall of the Vice-Pope Comments 1

Friday, June 20th, 2014

A photograph taken in Argentina in 2007 shows two cardinals, Jorge Mario Bergoglio and Tarcisio Bertone, sitting side by side, although their chairs are on two different levels. At the time, Bertone was the Vatican’s Secretary of State, having traveled to a village in northern Patagonia “in the name of His Holiness Benedict XVI” to Read more

Vatican City cracks down on suspicious transactions Comments 0

Friday, October 11th, 2013

The Vatican City State has adopted a new law cracking down on financial transactions that could enable money-laundering and imposing a new level of transparency and supervision. The Holy See Press Office said the new norm, Law XVIII, “strengthens the current internal system for the prevention and countering of money laundering and the financing of Read more

Pope Francis strengthens law against money laundering Comments 1

Friday, August 9th, 2013

Pope Francis on Thursday intensified the fight against corruption in the Vatican by strengthening the law to counter “money laundering, the financing of terrorism and the proliferation of weapons of mass destruction.” The pope issued a decree expanding the role and the reach of the Vatican’s Financial Intelligence Authority “in response to a recommendation” of Read more

Vatican Bank officials accused of breaking Italian laws Comments 0

Friday, July 19th, 2013

Prosecutors allege two former top executives at the Vatican Bank repeatedly broke Italian laws on money-laundering by failing to give sufficient information when ordering multi-million-euro bank transfers. Key details missing on requested transfers included the identity of the owners of the funds and the reason for transfer, according to a Reuters report. While the prosecutors Read more

Vatican financial watchdog finds ‘suspicious transactions’ Comments 0

Friday, May 24th, 2013

The new Vatican financial watchdog set up to prevent money-laundering says it uncovered six “suspicious transactions” last year, one involving the Vatican Bank. Two of those cases were forwarded to Vatican prosecutors for further investigation, and the other four may still warrant more formal probes, the Financial Information Agency said in its first annual report. Read more