Featured Vatican City

The Vatican-Centurion Global financial scandal: Explainer

In recent weeks, CNA has been covering a Vatican financial scandal involving a multi-million-dollar investment fund, money donated by Catholics to support charity and Vatican ministries, and a pair of banks linked to money-laundering and bribery allegations. The financial scandal is one of several unfolding at the Vatican, and covered… Read More

Vatican investments linked to global money laundering investigations

A fund in which the Vatican’s Secretariat of State has invested tens of millions of euros has links to two Swiss banks investigated or implicated in bribery and money laundering scandals involving more than one billion dollars. The fund is under investigation by Vatican authorities. The fund, Centurion Global Fund,… Read More

Vatican Posed Security Threat, Says Financial Watchdog After Suspension

An international network of financial watchdogs said the Vatican’s handling of confidential information posed “an evident security threat to our organization,” in a statement explaining why it suspended the Vatican from access to its information earlier this month. The Egmont Group, a Toronto-based network of more than 160 national… Read More
28th November 2019
AP — Pope Francis has tapped a Bank of Italy executive to take over the Vatican’s financial intelligence unit following a scandal that resulted in the Vatican being suspended from an international anti-money laundering network. Carmelo Barbagallo has been head of the Italian central bank’s vigilance unit since 2014, and… Read More
27th November 2019
AP — Pope Francis defended a controversial raid on the Vatican’s financial watchdog agency, saying Tuesday it showed the Vatican’s in-house system of checks was working. Francis said he authorized the Oct. 1 raid after the Vatican criminal prosecutor came to him with evidence of corruption involving a Holy See investment… Read More
22nd November 2019
The Holy See’s relationship with a disreputable Swiss bank triggered an internal dispute between the Secretariat of State and Vatican financial authorities. At the center of the conflict was a multimillion-dollar line of credit used to fund a controversial investment in London property speculation. Sources inside the Vatican’s Prefecture for… Read More
20th November 2019
An international network of financial watchdogs has suspended the Vatican’s access to its information, dealing a major blow to the Vatican’s financial credibility under Pope Francis. The Egmont Group, a Toronto-based network of more than 160 national financial intelligence units around the world, has decided to suspend the Vatican watchdog… Read More
19th November 2019
The Vatican said on Monday the head of its financial regulator would leave, weeks after unprecedented police raids on his organization and another key arm of the Catholic Church’s bureaucracy. Rene Bruelhart, a 47-year-old Swiss lawyer, told Reuters he had resigned from the top job at the Financial Information Authority… Read More
31st October 2019
An Italian dermatology hospital and two senior cardinals are at the center of a burgeoning financial scandal involving a Vatican bank, the U.S.-based Papal Foundation, and millions of euros from misallocated government grants. The events concern the financial collapse of the Istituto Dermopatico dell’Immacolata (IDI), an Italian hospital. According to… Read More
24th October 2019
The Vatican’s financial regulator on Wednesday rejected a prosecutor’s accusations that it acted improperly over the purchase of a luxury building in London, raising the stakes in an awkward internal conflict for Pope Francis. A statement by the Financial Information Authority (AIF) was the latest twist in a saga that… Read More
3rd October 2019
Five Vatican employees, including the number two at the Vatican’s Financial Information Authority (AIF) and a monsignor, have been suspended following a police raid, the Italian magazine L’Espresso reported on Wednesday. The scandal, affecting two departments at the heart of the Vatican, was the first after several years of relative… Read More
12th August 2019
Pope Francis has approved new statutes for the Vatican Bank, making an external audit obligatory and introducing other changes to bolster reforms that have turned around the once scandal-ridden institution. The statutes, approved in a papal document released by the Vatican on Saturday, cap more than six years of changes… Read More
16th July 2019
The director of the Sistine Chapel Choir, which has provided the musical backdrop to papal events for centuries, has resigned following allegations of fraud and embezzlement. Monsignor Massimo Palombella has “concluded his service” after Pope Francis approved his request to end his tenure, the Vatican said in a statement on… Read More