Vatican Bank Money Laundering Scandal

Authorities from the Italian Financial Police seized $30 million from a Vatican bank account, Monday and investigated two top bank officials. According to the Vatican newspaper L’Osservatore Romano, it started when the Bank of Italy told authorities about the possible violation of the Vatican Bank of the anti-money laundering laws.

The Vatican is said to have asked the Credito Artigiano to carry out two wire transfer without providing enough information regarding the transfer to comply with the law. The two wire transfers are: (1) $ 26 million for the JP Morgan in Franfurt and another (2) $4 million for the Banca del Fucino.

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