Holy See no longer takes credit cards-no money-laundering controls acc. to Bank of Italy

LONDON — If you’re planning a trip to the Vatican, be sure to take cash.

Since Wednesday, museums and businesses in the Holy See have been declining credit card and debit card purchases following a decision by the Bank of Italy that is reportedly linked to concerns over inadequate money-laundering controls.

Cash machines have also been shut down after the Italian central bank refused authorization for Deutsche Bank’s Italian unit to continue operating services it provided within the Vatican’s walls.

An Italian treasury official said last month that the Vatican could no longer use the services of Italian-based banks in the light of new rules against money laundering, according to Vatican Radio.
Full article with links at:
http://rendezvous.blogs.nytimes.com/2013/01/04/vatican-goes-cash-on...

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Permalink Reply by jay H on January 19, 2013 at 7:18am

"Money laundering controls" are basically a huge invasion of privacy by the state anyhow. I grew up in a time when the state had much less ability and 'right' to monitor private transactions absent actual evidence of crime. Sadly this has become normal.

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