Vatican Bank allegedly under investigation for money laundering

Italian weekly investigative magazine “Panorama” has claimed in its 4 December issue that the Vatican Bank is under investigation for suspected money laundering via accounts held at one of Italy’s largest banks, the UniCredit Group.  The magazine claims that prosecutors are probing transactions totalling 180 million euros [about £162 million] handled between 2006 and 2008 by Vatican Bank accounts held at Unicredit’s branch near the Vatican in Rome’s Via della Conciliazione.  Some of the funds allegedly came from the sale and purchase of real estate, and the banking operations allegedly break money laundering laws.  Prosecutors told the magazine that they would soon question Unicredit’s senior management over the suspect operations, and that they are also investigating deposits made at other Italian banks.  Prosecutor Nello Rossi is heading the investigation, which is being carried out in conjunction with financial specialists from the Italian tax police.