Vatican Bank Investigated for Money Laundering

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An Italian probe into the Vatican Bank marks the first time Italian authorities have ever blocked an account at the bank, prosecutors told CNN Wednesday.

Vatican Bank

Italian authorities informed the Vatican Bank Tuesday that it was under investigation over possible violations of money laundering regulations, prosecutor Nello Rossi told CNN.

Prosecutors seized 23 million euros (about $30 million) in Vatican Bank transactions “as a cautionary measure” on Monday, he said.

It is not the first time Italian prosecutors have investigated the bank, but probes are extremely rare, he said.

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