Friday, July 11, 2014

Vatican surprised by Bankitalia credit card block

February 20. 2013 1:58AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) A senior Vatican official says he is truly surprised by the Bank of Italy's decision to enforce the suspension of credit card payments in the tiny city-state and insists the Vatican has taken adequate measures to fight money laundering.

The Vatican has been cash-only since Jan. 1 after Italy's central bank compelled Deutsche Bank Italia to stop providing electronic payment services. That has meant visitors to the Vatican Museums and the Vatican post office have had to pay cash for any transactions.

Bankitalia said it had no choice but to act because the Vatican has no banking regulatory framework or EU-recognized alternative for anti-money-laundering purposes.

Rene Bruelhart, director of the Vatican's financial watchdog agency, noted in comments published Sunday that the Vatican passed a key European financial transparency test last year.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds