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Carmelo Barbagallo, president of the Vatican s Supervisory and Financial Information Authority, smiles during a July 3, 2020, interview in Rome. (CNS/Reuters/Remo Casilli) Vatican City The Vatican s financial watchdog agency said that in 2020 more financial transactions were flagged as suspicious by Vatican offices, but after investigation it did not have to suspend any transactions or freeze any accounts. The 2020 annual report of the Supervisory and Financial Information Authority, published July 15, said it received 89 suspicious activity reports, 85 of which came from the Institute for the Works of Religion, commonly called the Vatican bank. In 2019, 64 suspicious activity reports were filed. After reviewing the documents connected to the 89 transactions, the authority submitted 16 reports to the Office of the Promoter of Justice of Vatican City State for potential criminal investigation, the report said.

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