1. The Vatican Bank Faces Accusations of Money Laundering
... million in Vatican funds (Rocca). Ten other banks are under investigation for having their fiscal residence in Italy but using the IOR as a shield to hide different dealings, such as tax or fraud evasion (The Straits Times). The investigation began after two suspicious transfers from an IOR account were detected, one for twenty million euros to a German branch of an American bank and one ... for 3 million euros to an Italian bank (News.gather.com). The Vatican Bank has vowed to be committed to "complete transparency" in order ... to gain enrollment on the "White List," a list of countr...
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