Results from Tag: 'vatican finances'
The letter, published by Italian media, contends employees are the victims of widespread workplace injustices.
Pope Francis issues sweeping new transparency laws for senior officials but critics doubt their efficacy unless the working culture of the Vatican changes.
Local media reported last month that investigators had been unable to account for around $1.9 million in transfers from the Vatican to Australia, but that $5.4 million had been identified as being used for legitimate expenses, such as travel, wages, and pension payments.
Speaking during a Jan. 14 webinar about financial transparency in the Catholic Church, Cardinal Pell praised the appointees as “highly competent women with great professional backgrounds.”
In a Jan. 13 statement, the Vatican said the new figure is “attributable, among other things, to some contractual obligations and the ordinary management of its resources.”
Working with the Vatican’s Supervisory and Financial Information Authority, AUSTRAC found that there were 362 transfers from the Vatican to Australia between 2014 and 2020, amounting to $7.4 million.
Sources tell the Register that the March 2019 letter the Vatican secretary of state sent to the president of the Vatican Bank appears to be a justifiable action intended to stem further losses on the property transaction.
Under the new law, APSA will gain ownership of funds, bank accounts, and investments, including real estate, previously administered by the Secretariat of State from Jan. 1, 2021.
The report by an Australian newspaper, which drew on documents from Australia’s financial crime regulator, did not detail where the money was dispersed.