Vatican Bank IOR Scandal Continues – Mafia Backlash Feared – Gotti Tedeschi

Old banking habits at Vatican Bank IOR are hard to break. 

http://www.telegraph.co.uk/news/worldnews/europe/vaticancityandholysee/9319414/Ex-head-of-Vatican-bank-planned-to-give-dossier-to-Pope.html

Ettore Gotti Tedeschi feared for his life because his efforts to crack down on alleged money laundering and making the bank's operations more transparent had targeted accounts held by mafia godfathers, the Italian media reported. 

The banker was preparing to send a copy of a dossier of letters, emails and other documents that he had compiled to Monsignor Georg Ganswein, one of Benedict XVI's two private secretaries. 

He had also requested a private audience with the Pope a few days before he was ousted by the board of the bank on May 24 after three years at the helm of the institution. 

He left instructions with his secretary to send two other copies to a lawyer and to a prominent Italian journalist, with notes saying that if anything happened to him, the explanation would be found within the documents. 

The secret dossier consisted of 47 binders of documents, including some which related to Mr Gotti Tedeschi's efforts to convince Cardinal Tarcisio Bertone, the Vatican secretary of state and de facto prime minister, of the need to clean up the bank's activities so that the city state could join an international "white list" of financially transparent countries.

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Vatican Bank (Institute for Religious Works) - God and the Mafia’s Private Bank

Institute for Religious Works - Vatican Bank

http://www.concordatwatch.eu/showkb.php?org_id=1561&kb_header_id=4231&kb_id=37181

A US court described it as “murky” [1] and the last President of the Vatican Bank admits that it offers secret accounts to many who “have had problems with the law”. There are no cheque books. Everything is done by transfer, by cash or in gold bullion, so as to be untraceable. This is perfect for money-laundering. And, as if the nine-metre thick walls of its tower in the Vatican did not offer enough privacy, “God’s bank” appears to have quietly established itself in the offshore financial centre of the Cayman Islands. [3]

As the bank of an independent state, the Vatican Bank escapes scrutiny from Italy. In addition, it has an impenetrable organisation, with three separate boards of directors. And it boasts another curious feature: it is said to be “never audited”, hence funds deposited there may simply vanish without a trace. [4] The Vatican Bank even maintains that it adopts the remarkable practice of destroying all of its records every ten years. [5]

FYI:

http://www.concordatwatch.eu/showsite.php?org_id=1561

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