VATICAN CITY
Gazzetta del Sud
Rome, January 22 – The Vatican bank said Wednesday that it was ready to resume normal relations with Italy after making progress in measures to prevent money laundering and other financial crimes. The image of the bank, officially called the the Institute for Religious Works (IOR), has been hit by a series of scandals over the years. Italian banks effectively stopped dealing with the IOR in 2010 after the Bank of Italy ordered them to enforce strict anti-money laundering criteria to continue working with it. The Vatican has made several reforms to introduce greater financial transparency and fight money laundering since Francis was elected pope last year.
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