National Catholic Reporter

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Economy of Vatican City

Two former Vatican Bank managers suspected of embezzlement

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The Institute for Works of Religion, known as the IOR or the Vatican Bank, is pressing charges against two former managers and a lawyer suspected of embezzlement, a press release from the IOR this morning announced.

The press release doesn’t name the chargees, but an exclusive story by veteran Reuters correspondent Philip Pullella does.

Vatican financial watchdog signs accord with U.S. Treasury Department

In its latest bid to tackle corruption and increase transparency, the Vatican's financial watchdog has signed a bilateral accord to exchange information with its counterpart in the U.S.

On Monday, officials with the Financial Information Authority announced it endorsed the agreement with the Office of the Comptroller of the Currency, an independent body in the U.S. Treasury Department responsible for regulating and supervising domestic and foreign banks.

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