Skip to content

Vatican Money Laundering

February 2, 2011

This was noted in half past human so I decided research it a bit. Not sure how reliable this source is but the story is pretty interesting.

Unmasking the Vaticans Bank

Key points – the accounts return 13%…where does the money come from to pay that?

  • Only Vatican employees and religious institutions are allowed to open accounts in the bank — which you’d think would make it the most moral bank in the world.
  • Italy’s Central Bank flagged a 23 million euro transfer from an IOR account in an Italian bank, the Credito Artigiano, to two other accounts as lacking some information now compulsory under EU-mandated anti-money laundering laws. So prosecutors seized the money, froze the IOR account, and opened an investigation
  • IOR’s biggest asset, anyway, is its secrecy — all its accounts are identified only by number. This secrecy has been used for unholy goals.
  • IOR’s secrecy has been assured by the loyalty and frugality of its employees, mostly priests, and by the fact that the Vatican, a sovereign State, operates as a financial black hole, exempt from all international disclosure and transparency obligations.

half past human indicates this ties into the mafia and some other…well politicians. We will see…

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: