VATICAN CITY
Daily Mail (United Kingdom)
By Nick Pisa
UPDATED: 11:16 EST, 8 March 2012
Drug enforcement chiefs have for the first time identified the Vatican as a possible centre for money laundering from criminal activity.
The report by the American State Department’s International Narcotics Control Strategy lists the Holy See as one of 68 countries including Yemen, Algeria and North Korea, describing it as a ‘country of concern’ for money laundering or other financial crimes.
Officials said they had placed the Vatican on its watch list because of the ‘huge amount of cash’ that flows into the tiny city state and also because it was still unclear how effective anti money laundering legislation introduced last year by Pope Benedict XVI had been.
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