The Vatican bank offered a rare glimpse inside its fortified headquarters as part of the Holy See’s efforts to persuade financial regulators and the public that the secretive institution is committed to cracking down on money laundering.
A retinue of Holy See bankers guided journalists through the medieval tower that houses the Institute for Religious Works, the bank’s official name, while rebutting allegations by Italian prosecutors that bank practices violate Italy’s money-laundering laws by allegedly masking the identity of its clients.
The tour was tightly choreographed, coming at a particularly delicate time for the Vatican. The Holy See is bracing for a ruling from the Council of Europe on whether the Vatican bank is compliant with international standards for fighting money laundering and terrorism. Reporters were barred from bringing cameras and recorders inside Vatican walls, and written questions were submitted in advance of a briefing.
“We finally want to pull back the veil,” said Paolo Cipriani, the Vatican bank’s managing director. Flanked by a row of stone-faced lieutenants and potted plants, Mr. Cipriani conceded he was “nervous” as he moved through a PowerPoint presentation on the bank.
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