UNITED KINGDOM
The Telegraph
Italian authorities have stopped all electronic payments inside the Vatican City after the Bank of Italy complained that it had failed to bring in new procedures to prevent money laundering.
By Harry Wilson, Banking Correspondent
6:21PM GMT 03 Jan 2013
The Bank of Italy suspended all bank card payments on Vatican territory from the start of the year and ordered Deutsche Bank Italia, which manages electronic payments for the world’s smallest country, to turn off its systems.
Italian newspapers reported that the action was taken after officials at the Italian central bank became worried that the Vatican was not prepared to implement new anti-money laundering rules.
The suspension of card services means that the Vatican museum, along with the territory’s pharmacy and post office, have all been unable to transfer money and accept payments.
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