February 2nd, 2017
(Serena Sartini / Infovaticana) ROME – The Institute for the Works of Religion (IOR): a name synonymous with intrigues, cardinals’ power games, and shady business deals. From the era of Cardinal Marcinkus, the “banker of God”, to this day, the so-called “Vatican Bank” has been awash in scandal, financial and otherwise. To name only a few: the collapse of the Banco Ambrosiano, the ongoing Italian investigation into Benedict-era senior officials and the sentencing of Monsignor Nunzio Scarano for money laundering. With Pope Francis, have things changed? Have the long-awaited cleanup operation and transparency arrived? The auditing of accounts? Has the alignment with international accounting standards been completed?