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
The Vatican bank has launched a website in the wake of a series of scandals and criticism for alleged lack of transparency. Vatican Radio quoted bank president Ernst von Freyberg that the site will provide information “on our reforms and the things we do in the world and how we support the Church and its Read more
The Vatican has disputed a report that the prelate appointed by Pope Francis to supervise the reform of the Vatican Bank indulged in flagrant gay affairs while serving as a papal diplomat. The report by Vatican journalist Sandro Magister said Monsignor Battista Ricca, 57, had a live-in lover when he served as a papal diplomat Read more
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
The Holy See has recovered from one of its worst deficits to post a $NZ3.6 million surplus for 2012, a good news story announced in a week in which “clear failings” were revealed in the processes of the Vatican Bank. In its annual financial statement, the Holy See said better management had helped it recover Read more
Pope Francis may have to replace the cleric he recently appointed to the key position of prelate of the Vatican Bank, according to a veteran journalist who writes of a “scandal near the point of exploding”. Monsignor Battista Mario Salvatore Ricca was described as a “trusted cleric” when the Pope’s appointment was announced on June Read more
Pope Francis has appointed eight cardinals to assist him in reorganizing the Vatican’s administration. One of them is the archbishop of Sydney, Australia, George Pell. Many think he was chosen simply because he is the only cardinal in Oceania and it appears that the pope wanted one from each continental region. When asked in an Read more
The Holy See has said it will co-operate fully with a fraud and corruption investigation into the money-smuggling activities of a senior cleric who headed the office that oversees Vatican property and investments. Monsignor Nunzio Scarano was arrested on a charge of attempting to smuggle €20 million ($NZ33.5 million) into Italy illegally. He was already Read more
To achieve the transparency and accountability he wants in the Vatican Bank, Pope Francis has set up a new commission to allow “a greater harmonisation” with the universal mission of the Church. This was “Pope Francis’ personal choice. It strays from the usual dynamic through which these decisions are taken,” a Vatican official speaking under Read more
The president of the “bank” of the Holy See, in this interview with Vatican Radio, opens his campaign to restore credibility to the controversial institution. With more integrity, more transparency, more communication Q: President Ernst von Freyberg, do you like your job, coming from Frankfurt down to Rome, working inside the Vatican? A: It is Read more