Vatican froze over $2 million in suspicious transactions last year
February 20, 2017
Vatican financial authorities froze more than €2 million ($2.125 million) in funds last year, as part of the continuing crackdown on suspicious financial transactions.
Gian Pietro Milano, the Vatican’s top prosecutor, reported on the frozen assets in a summary of the activities of his office. He disclosed that the Financial Intelligence Authority, created by Pope Benedict XVI in 2010 to supervise Vatican financial transactions, had called attention to the suspicions transactions, which had eventually led to two indictments.
Milano said that investigations are continuing in 17 cases of suspected financial misconduct from 2016 and earlier. Since 2013, he said, about €13 million has been frozen in Vatican accounts.
European financial authorities have applauded the Vatican’s progress in uncovering suspicious financial transactions, but called for a more aggressive approach to prosecuting transgressions.
For all current news, visit our News home page.
All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!