Carmelo Barbagallo is the new president of the Financial Information Authority. The FIA oversees the Vatican's financial transactions and detects money laundering.
Barbagallo is an expert in banking and financial security. He works as a supervision inspector for the Bank of Italy.
The position was vacant for weeks after Swiss former FIA president, René Bruelhart, resigned following his subordinate's involvement in a case of mishandling funds and money laundering. The accused is FIA director Tomasso Di Ruzza.
The investigation stems from an accusation from the Vatican bank and the auditor general, who noticed suspicious operations. The auditor informed Pope Francis. The pope then asked the Vatican prosecutor to intervene to uncover the facts.
Ángeles Conde.
Translation: Claudia Torres
