Featured Vatican City

Vatican cardinals linked to missing millions and financial scandal

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

Vatican financial regulator denies wrongdoing in London property buy

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

Vatican financial control office director, four others suspended: report

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
22nd May 2019
Reports of suspicious financial activity in the Vatican reached a six-year low in 2018, an internal watchdog report showed on Tuesday, continuing a trend officials said showed reforms were fully embedded. The annual report by the Vatican’s Financial Information Authority (AIF) also showed that Vatican’s cooperation with international financial regulators… Read More
18th July 2017
Tuesday sees the start of the Vatican trial of two former officials of a papal hospital in Rome charged with illicitly using funds to renovate the Vatican apartment of Cardinal Tarcisio Bertone, in a way that benefited a fellow Italian businessman. Bertone himself was not an object of the Vatican… Read More
5th April 2017
The Vatican City is (officially) no longer a tax haven. The Holy See has in fact entered Italy’s “white list for tax purposes,” that introduces a financial income tax exemption for the residents of the countries concerned. The new rule came into effect following the official promulgation on March 23… Read More
20th February 2017
The action is the latest move in Pope Francis' attempts to clean up the scandal-ridden Holy See's banking system. Read More
24th November 2016
Pope Francis said on Thursday that corruption is a form of blasphemy which leads to the worship of money and the exploitation of others. Read More
5th July 2016
Vatican prosecutors on Monday asked for sentences ranging from one year to nearly four years for four defendants accused of leaking or publishing sensitive documents depicting a Vatican plagued by graft. The prosecutors in the so-called Vatileaks II trial asked for charges to be dropped against Emiliano Fittipaldi, one of… Read More