This is no ordinary bank. The ATMs are in Latin, priests use a private
entrance, and a life-sized portrait of Pope Benedict XVI hangs on the wall.
Nevertheless, l’Istituto per le Opere di Religione (the Institute for
Religious Works) is a bank, and it is under harsh new scrutiny, including
money-laundering allegations that led police to seize €23m (£19.5m) in
Vatican assets in September. Critics say the case shows that the “Vatican
Bank” has never shed its penchant for secrecy and scandal.

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