What was the Banca Romana scandal?
The Banca Romana scandal of the early 1890s was one of the most explosive political and financial corruption scandals in the history of modern Italy, involving massive illicit banknote printings, political kickbacks, and widespread bribery. As one of the authorized banks permitted to issue legal currency in the newly unified Italian kingdom, the Banca Romana suffered from severe financial mismanagement and excessive real estate speculation loans that turned sour. To cover up massive financial deficits and fund expensive political campaigns for prominent government figures, bank management unlawfully printed millions of secondary duplicate banknotes. The exposure of this vast criminal conspiracy triggered a sweeping parliamentary inquiry, caused the fall of high-profile political ministries, and led to a major structural overhaul of the entire Italian banking and central monetary system.
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