VATICAN CITY
Yahoo! News
By Philip Pullella | Reuters
VATICAN CITY (Reuters) – Pope Francis has indicated for the first time that he may make changes to the Vatican’s scandal-ridden bank as part of a broad review of the Holy See’s troubled administration.
Before Francis was elected last month, many of the cardinals who went on to choose him expressed concern about the harm done to the Church’s image by three decades of scandals at the bank, which Italian magistrates are now investigating for money laundering.
A report last year by Moneyval, a European anti-money laundering body, found that the bank, officially the Institute for Works of Religion (IOR), had failed to meet some of its standards on fighting financial crimes, and called for increased oversight.
In an impromptu sermon at a Mass for Vatican employees including staff from the bank, the pope said they should concentrate on the true mission of the Church and that Vatican departments were needed “only up to a certain point”.
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