1. The Vatican Bank Faces Accusations of Money Laundering
... attempting to transfer funds from one of its accounts in an Italian bank to two other banks, one of which is in Germany. Because of these allegations, an Italian court has frozen $30 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 ... 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 or...
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