Vatican Claims Transparency Amid Laundering Probe - Spokane, North Idaho News & Weather KHQ.com

Vatican Claims Transparency Amid Laundering Probe

VATICAN CITY (AP) - The Vatican says it is "perplexed and surprised" by a money laundering probe that resulted in the seizure of euro23 million ($30 million) from the Vatican bank and an investigation of the company's chairman.

Italian financial police made the seizure Tuesday as a precaution and prosecutors placed the chairman and another official of the Institute for Religious Works under investigation for alleged mistakes linked to violations of Italy's anti-laundering laws.

In a statement, the Vatican says it had been working for some time to make its finances more transparent to comply with anti-terrorism and anti-money laundering regulations. It expresses
full trust in the head of the bank, Ettore Gotti Tedeschi, and the director-general.
      
      (Copyright 2010 by The Associated Press.  All Rights Reserved.)
   

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