Italian inquiry will conclude Vatican bank allowed chances for money-laundering
July 08, 2013
An investigative report on the Institute for Religious Works (IOR) will conclude that the Vatican bank’s policies offered opportunities for money-laundering, according to Italian newspaper reports.
Two dailies, Corriere della Sera and La Repubblica, have quoted from what they say is a leaked preliminary report from Italian prosecutors, finding that the IOR “can easily become a channel for the laundering of money with a criminal origin.”
The Italian prosecutors began their probe into the IOR in 2010, before the Vatican instituted a series of new policies aimed at ensuring transparency and accountability in financial transfers.