The Vatican is in advanced talks with Italian authorities to end decades of secret banking in the city-state, as Pope Francis presses ahead with his efforts to clean up the finances of the Catholic Church. The move would mark the latest step in the reform of the Vatican Bank — known as the Institute for […]

In his annual Christmas messages to more than one billion Catholics, the Pope may have left out something: offshore account compliance. Maybe, but the U.S. Treasury is more than happy to fill in the blanks. Just before Christmas, the Holy See reached the substance of an Intergovernmental Agreement (IGA) to hand over American account details. FATCA is everywhere, […]

Pope Francis, like his predecessor, has been working to clean up the Vatican Bank, which has been plagued with allegations of money laundering and fraud. Pope Francis will appoint a new chief banker to the Vatican Bank, with the bank reporting minimal profits for 2013 as it attempts to clean up its accounts. The Institute […]