Pope to Probe Vatican Bank for Impropriety

Pope Francis commissions five people to look into the bank's troubles

   

Pope Francis announced Wednesday that a commission of inquiry would be looking into the Vatican bank.

Pope Francis collected the commission to get to the bottom of money laundering operations that have been discovered in the Vatican bank, reports Reuters. With six attempts to launder money stopped last year and seven this year, the Pope is looking to put a stop to the problem.

The commission is made up of five people who will report straight to the Pope. The members of the commission are an Italian cardinal, a French cardinal, a Spanish bishop, an American monsignor and Mary Ann Glendon, a Harvard professor who is president of the Vatican’s Pontifical Academy of Social Sciences, reports Reuters.

Pope Francis showed earlier this week that he was serious about his position when he didn’t attend a concert and instead worked to fix the Vatican’s central administration.


Article printed from InvestorPlace Media, http://investorplace.com/2013/06/pope-to-probe-vatican-bank-for-impropriety/.

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