1. The Vatican Bank Faces Accusations of Money Laundering
... great simplicity." Furthermore, he believes that, because of the IOR's location in Vatican City, the IOR is "beyond the jurisdiction and surveillance" of the Bank of Italy rendering the allegations fraudulent to begin with (News.gather.com). Lombardi's letter also declared the IOR's commitment to the standards of the European Union and Organization for Economic Cooperation and Development, which fight terrorism and money laundering (News.gather.com). The IOR manages funds for the ... to have had a hand in the bankruptcy of Banco Ambrosiana. Their bankruptcy was the largest in European hi...
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