Bank of Italy suspends Vatican credit card payments

The Bank of Italy suspended electronic payments in the Vatican City because the papal state doesn’t comply with international money laundering rules.

4th January, 2013
The Vatican lacks required banking and financial legislation, an Italian central bank official said.

The Bank of Italy suspended electronic payments in the Vatican City because the papal state doesn’t comply with international money laundering rules.

The central bank found in an inspection in 2010 that Deutsche Bank AG’s Italian unit, which had been operating the papal state’s point-of-service payment services since 1997, didn’t have the authorisation to operate in the Vatican City, a Bank of Italy official said. The central bank on December 6th refused a...

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