French financier Jean-Baptiste de Franssu (left), new president of the Institute for Religious Works (IOR) or Vatican Bank, with predecessor Ernst von Freyberg (right), during a press conference after Holy See economy prefect Cardinal George Pell announced his appointment today. Photograph: Angelo Carconi/EPA

The Vatican said today it would separate its bank’s investment business from its Church payments work to try to clean up after years of scandal, and v(...)

Monsignor Nunzio Scarano, the Vatican official arrested last June on charges of attempting to illegally import € 20 million into Italy, was re-arrest(...)

The Vatican Bank. From day one it was clear Pope Francis was no friend of deregulated capitalism, let alone murky financial speculation.  Photograph: Gabriel Bouys/AFP/Getty Images

As tourists walk past the Porta Sant’Anna in Rome, just off St Peter’s Square, few pay much attention to the strange-looking, rounded tower that sits (...)

The Vatican is trying to comply with the recommendations last year of the European Council’s anti-money laundering “Moneyval” committee. Photograph: Andrew Medichini/AP

In yet another indication of his desire to clean up the administration of the Holy See, Pope Francis yesterday issued a “motu proprio” strengthening t(...)

Msgr Nunzio Scarano: arrested two weeks ago on suspicion of involvement in a €40 million money-smuggling operation. Photograph: AP Photo/Francesco Pecoraro

The Holy See yesterday said the investigation into Vatican employee Msgr Nunzio Scarano, arrested two weeks ago on suspicion of involvement in a €40 m(...)

A flower mosaic is created in  Saint Peter’s Square at the Vatican. The director and deputy director of the Vatican’s bank have resigned following the arrest of a senior cleric with close connections to the bank who is accused of plotting to smuggle €20 million into Italy from Switzerland. Photograph: Franco Origlia/Getty Images

The director and deputy director of the Vatican bank resigned today following the arrest of a senior cleric with close connections to the bank who is (...)