Vatican Bank Under Laundering Probe


Coat of arms of the Vatican City. Image via Wikipedia

Italian police probe Vatican bank officials

VATICAN CITY (AP) —  Just when the Catholic Church didn’t need another scandal, Italian authorities have seized euro23 million ($30.18 million) from a Vatican bank account and begun investigating top officials of the Vatican bank in connection with a money laundering probe.


Italian financial police seized the money as a precaution Tuesday and prosecutors placed the Vatican bank’s director general and its chairman — a man who speaks frequently about morality in financing — under investigation for alleged mistakes linked to violations of Italy’s anti-laundering laws, news reports said.


In a statement, the Vatican said it had been working for some time to make its finances more transparent to comply with anti-terrorism and anti-money laundering regulations.

“The Holy see is perplexed and surprised by the initiatives of the Rome prosecutors, considering the data necessary is already available at the Bank of Italy,” it said in a statement.

……According to the reports, the Vatican bank had neglected to communicate to financial authorities where the money had come from. The reports stressed that Gotti Tedeschi wasn’t being investigated for laundering money himself but for a series of omissions in financial transactions.


Gotti Tedeschi was named chairman of the bank a year ago after serving as the head of Italian operations for Spain’s Banco Santander. A member of the conservative religious movement Opus Dei, Gotti Tedeschi frequently speaks out on the need for more morality in financing and is a very public cheerleader of Pope Benedict XVI‘s finance-minded encyclical “Charity in Truth.”

In the book “Money and Heaven,” Gotti Tedeschi explored capitalism and Catholic values.


via AP: Italian police probe Vatican bank officials

From the selected text above, it would appear that the probe is looking into violations caused by oversight/omission that are not necessarily of malicious intent. Despite that, the beginning of the AP story above seems written in a tone intended to create a bit of scandal or suspicion giving those that scan news stories the impression that another major scandal is brewing at the Vatican.

Also of note is the story’s reference to the Vatican bank chief’s, Gotti Tedeschi, membership in Opus Dei and seems to be firm believer in moral capitalism (many would argue that this is an oxymoron).

Needless to say, that the manner in which all Christians behave to shine light on our faith and how serious we are about it. Granted, no person can or should judge our hearts or intent but if one is able to live out their faith then it makes it easier to demonstrate to the ever-skeptical secular world that Christianity is more than a faith for Sundays or even a cultural crutch.

Realistically, we will never be free of scandal within the Church or without but let us not make it so easy for the Enemy.


Leave a Reply

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

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

Google+ photo

You are commenting using your Google+ 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 )


Connecting to %s