Vatican - cash only

[Voltairine]

It's "cash only" now for tourists at the Vatican wanting to pay for museum tickets, souvenirs and other services after Italy's central bank decided to block electronic payments, including credit cards, at the tiny city-state.

Deutsche Bank Italia, which for some 15 years had provided the Vatican with electronic payment services, said Thursday that the Bank of Italy had pulled its authorization after Dec. 31.

The Corriere della Sera newspaper reported that the Italian central bank took the action because the Holy See has not yet fully complied with European Union safeguards against money laundering. That means Italian banks are not authorized to operate within the Vatican, which is in the process of improving its mechanisms to combat laundering.

...

The Vatican has been striving to upgrade its measures to detect and discourage money laundering, hiring a Swiss expert just a few months ago. Last summer, the Holy See passed a key European financial transparency test but received failing grades for its financial watchdog agency and its bank, formally called the Institute for Religious Works.

Money laundering and the Vatican? Nah!

But wait, shouldn't they get their usual religious exemption?

http://www.foxnews.com/world/2013/01...#ixzz2GyuIhxKP

[atuanui]

Corruption and religion go hand and hand.

[Sieveboy]

You would think that by now the silly men in funny expensive clothes would have figured out how ineptly prepared for the new millenia they are. Why any one considers them an authority on anything but their own dogma is beyond me.

[Loki]

Tis a strange logic which says that the way to distance yourself from money-laundering is to insist everything is done with cash.

Much the same logic which says wishful thinking will turn a biscuit into flesh and blood, really really truly except in any way anyone could tell the difference.

I guess it does take more than blind assertion and ancient concordats extorted from the gullible to make a viable country.

[Jinny]

[Sir Patrick Crocodile]

Originally Posted by Loki

Tis a strange logic which says that the way to distance yourself from money-laundering is to insist everything is done with cash.

And to top that up, there was a lot of money laundering back in the days of Ye Olde, with bags of cash. Just one step back in time.

[dilbadoon]

Originally Posted by Loki

Tis a strange logic which says that the way to distance yourself from money-laundering is to insist everything is done with cash.

Much the same logic which says wishful thinking will turn a biscuit into flesh and blood, really really truly except in any way anyone could tell the difference.

I guess it does take more than blind assertion and ancient concordats extorted from the gullible to make a viable country.

Seems like it's more a liability issue to the bank. Can't blame them for not wanting to be a part of that mob. I really wonder if they are the best organised crime racket in the world?