Vatican Bank Close To Signing Deal With Italy

Sky News

The Vatican has revealed it is close to reaching an agreement with Italy over a clampdown on potential money-laundering.

A senior Vatican official said the deal may be announced later this week, and is part of Pope Francis’ attempt to sweep clean Vatican finances.

For decades the powerful financial institution within the Holy See has been accused of facilitating illicit behaviour.

Officially known as the Institute for Works of Religion, it has faced accusations of providing a tax haven for wealthy Italians.

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