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Category: Vatican Bank

Pope puts faith in Vatican Bank to prevent repeat of London property scandal

Pope Francis has moved decisively to clean up corruption in Vatican finances and to avoid a repeat of the high-profile botched investment in a London property that resulted in a loss of 140 million euros. The Holy Father issued a document called a “rescriptum”, which explicitly ordered all investments made by Vatican departments to proceed

The post Pope puts faith in Vatican Bank to prevent repeat of London property scandal appeared first on Catholic Herald.

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As new report released, Vatican bank chief says ‘bad old days’ are done

In tandem with other milestones in recent years, President Jean-Baptiste de Franssu, the French economist and banker who’s led the IOR since 2014, believes June 2021 marks an historic turning point.

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U.S. recognizes Vatican finance, auditing measures

The United States added Vatican City State to its list of countries that conform to international standards regarding the verification of the identity of persons conducting financial transactions through its institutions, including the so-called Vatican bank.

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Despite question marks, Vatican bank verdict is still a watershed

We witnessed a potential watershed moment this week for financial reform in the Vatican when a longtime former president of the Vatican Bank, along with the bank’s lawyer, were sentenced to eight years and 11 months in jail for their roles in a $70 million fraud.

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