1. The Vatican Bank Faces Accusations of Money Laundering
... is extremely disgruntled at the fact that Italian magistrates publicly announced the allegations; "The nature and aims of the transactions under investigation could have been clarified with 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 ...
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