Vatican Bank Inquiry Ordered By Pope Francis
A Vatican bank inquiry has been ordered by Pope Francis. A five-member commission has been appointed to investigate reports of impropriety including laundering money. Pope Francis has requested that any findings be reported directly to him.
As the Vatican bank has faced countless rumors of scandal, the pontiff expects the inquiry to clear up any remaining controversy. The bank has been accused of numerous questionable dealings including laundering funds for the Sicilian mafia. The death of Banco Ambrosiano chairman Robert Calvi only fueled rumors as his death was blamed involvement in organized crime.
As reported by Google News, Pope Benedict XVI attempted to reform the Vatican bank in 2011. The reform included provisions set by the Organisation of Economic Cooperation and Development.
Pope Benedict’s efforts were criticized as ineffective, as rumors of scandal continued to plague the bank.
Pope Francis has taken several steps to ensure a thorough overhaul and investigation. As reported by USA Today, he has appointed a trusted colleague to oversee general bank operations, including management, meetings, and documentation.
The Vatican bank inquiry team will include two Americans. Monsignor Peter Wells with the Vatican secretariat of state, and Mary Ann Glendon, current president at a pontifical academy, are included in the commission.
Members of the commission have been given specific permission to access any pertinent documents and data.
Changes in Vatican bank and finance administration are expected to continue as a result of the inquiry. The permanent suspension of a Vatican financial officer, Monsignor Nunzio Scarano, was confirmed during today’s announcement.
Monsignor Nunzio Scarano is accused of direct involvement in money-laundering activities. Scarano denies the accusations.
The Vatican bank exists to manage assets used for charitable and religious purposes. Additionally, the bank handles retirement funds for Vatican employees.
The Vatican bank inquiry is expected to “allow for better harmonization with the universal mission of the Apostolic See.” As The Catholic Church faces continued controversy, the investigation and eventual reorganization will help rebuild a sense of trust and integrity.
[Image via Wikimedia]
