Click here to advertise on CatholicCulture.org

Fallout from old money-laundering case prompted suspension of Vatican bank-card transactions

Catholic World News - January 08, 2013

Italian banking officials suspended bank-card transactions at the Vatican on January 1 because of lingering questions about the Vatican bank’s involvement in a money-laundering case dating from 2010, the ANSA news service reports.

By refusing to process bank-card transactions from the Vatican, Italian banks have effectively put the Vatican on a cash-only basis since the beginning of this year. Vatican officials are scrambling to find an alternative way of processing bank-card transactions, to make it easier for tourists visiting the Vatican Museums and other sites.

Prosecutors in Rome have reportedly been investigating the role of the Vatican bank, the Institute for Religious Works, in an old money-laundering case. The concerns raised by that case triggered the bank officials’ move, ANSA says.

The Vatican has instituted a series of financial reforms in the past year in a drive to meet tough new European banking standards, and European examiners acknowledged last July that the Vatican had made great strides in protecting against money-laundering. However the examiners called for further steps to assure accountability in financial transactions.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our July expenses ($15,447 to go):
$35,000.00 $19,553.29
44% 56%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Showing the Courage to battle homosexual impulses 7 hours ago
In other words, to be a Christian means this: 9 hours ago
Wanted: a balanced Catholic perspective on immigration 13 hours ago
Renewal with God before Us: Christ Determines All July 30
Sons of Dominic Prepare for Family Synod July 29

Top Catholic News

Most Important Stories of the Last 30 Days
New management, new changes coming for reformed Vatican bank CWN - July 8
Sweeping reforms to Vatican's media, financial operations CWN - July 9
‘Even Genghis Khan didn’t do this’: Mosul emptied of Christians CWN - July 21