An Italian investigative journal is reporting that the Vatican bank is under investigation over money laundering allegations. Panorama magazine says that the investigation concerns suspected money laundering via accounts held at one of Italy's largest banks, the UniCredit Group, IBN Live reports.
It claims prosecutors are probing transactions totalling 180 million euros handled between 2006 and 2008 by Vatican bank (IOR) accounts held at Unicredit's branch near the Vatican in Rome's Via della Conciliazione.
Some of the funds came from the sale and purchase of real estate, according to the weekly, and the banking operations allegedly break money laundering laws.
Prosecutors told the magazine that they would in the next few days to question Unicredit's senior management over the suspect operations.
They are also investigating deposits made at other Italian banks, Panorama said.
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