The Council of Europe’s anti-money laundering inspectorate, Moneyval, has ended more than a decade of special measures and inspections over Vatican institutions, upgrading the Holy See to the watchdog’s ordinary process of assessments and evaluation to “regular” status. The move comes after Moneyval offered a broadly positive assessment of financial security progress made at the Read more
Posts Tagged ‘Vatican finances’
Secretariat of State has not turned over financial control despite papal mandate
Thursday, June 17th, 2021
Five months after Pope Francis issued new norms governing Vatican finances, the Secretariat of State has not yet given to the Secretariat of the Economy oversight and control over funds — a handover ordered by the pope — several Vatican officials have charged. Neither the Secretariat of State nor the Vatican press office have responded Read more
‘Security consultant’ appeals extradition to the Vatican
Monday, October 19th, 2020A self-described geopolitical analyst at the center of the most recent Vatican financial scandal is being held in an Italian jail pending extradition to the Vatican. Cecilia Marogna was arrested October 13 by Italian financial authorities after a warrant was issued by Vatican prosecutors through Interpol. Marogna has said she worked for the Holy See’s Read more
Timing of Pell’s return to Rome and Becciu’s resignation coincidental
Monday, October 5th, 2020
There is no connection between the timing of Cardinal George Pell’s return to Rome and the recent resignation of Cardinal Angelo Becciu. Pell and Becciu were known rivals in the bid to reform the finances of the Holy See before Pell returned to Australia to face child sex abuse charges. “There is no connection between Read more
Vatican finances must be like a house of glass
Monday, October 5th, 2020
The economy of the Holy See should be transparent like a house of glass, says Vatican Secretariat for the Economy prefect Fr. Juan A. Guerrero SJ. He made the comment when the Secretariat released the 2019 balance sheet for the Roman Curia last Thursday. “We want the budget to explain how the Holy See uses Read more
Vatican Cardinal accused of flicking funds to Australia during Pell trial
Monday, October 5th, 2020
According to Italian media, recently-sacked Cardinal Giovanni Angelo Becciu allegedly sent funds covertly to Australia during Cardinal George Pell’s child sex-abuse trial. Denying the claims, Becciu issued a strongly worded statement saying: “I categorically deny interfering in any way in the trial of Cardinal Pell.” Becciu called the allegations against him “surreal” and a misunderstanding. Read more
Cardinal Pell has returned to Rome – but why?
Thursday, October 1st, 2020
Cardinal George Pell has returned to Rome. It is the first time Pell has returned to the Holy See since 2017, since he left to face historic child abuse charges. In 2014 Pope Francis appointed Pell, then aged 73, to lead the Vatican Secretariat of State. His role was to reform the Vatican’s finances. However, Read more
Allegations mount against Vatican’s Cardinal Angelo Becciu
Thursday, October 1st, 2020
A new probe into Vatican finances coincided with the resignation of Cardinal Angelo Becciu (pictured) last week. His resignation followed an unscheduled meeting with the pope. Francis told him he had lost his trust and ordered him to step down. News of Becciu’s resignation was followed by reports that Italian businessman Gianluigi Torzi has provided Read more
Decline in Vatican tourism forces pope to cutback
Thursday, September 10th, 2020
The Vatican tourism revenue has been hit hard by the pandemic. Like other major visitor hotspots, the Vatican is predicting big losses and has had to make cutbacks. The museums (which include the Sistine Chapel) cost about €20 (about $NZ35) to visit. Normally, tens of thousands of people arrive every day, generating millions of dollars Read more
Vatican finance appointee expects integrity
Monday, August 17th, 2020
To be credible, the Vatican’s finances need to show integrity, be transparent and have set of values that everyone can operate under, says a recent appointee to the Holy See’s Council for the Economy. Leslie Ferrar, is one of six women Pope Francis appointed to the board overseeing the Holy See’s finances. Reforming the Vatican’s Read more