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Subject Credit Card Block Stuns Vatican.... Ha Ha this too Funny....
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[link to www.mb.com.ph]

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A senior Vatican official said he is “truly surprised” that the Bank of Italy ordered credit card payments suspended in the tiny city-state

The Vatican has been cash-only since January 1 after Italy's central bank compelled Deutsche Bank Italia to stop providing electronic payment services to the Holy See.

The Bank of Italy said in a statement this week it had no choice but to order the block because the Vatican has no banking regulatory framework or EU-recognized alternative for anti-money-laundering purposes.

In truth, the Council of Europe's Moneyval committee found some serious problems in the Vatican's anti-money laundering efforts.

Then last year, under pressure from the Bank of Italy, JPMorgan closed its IOR accounts. Now, Deutsche Bank has halted its 15-year term providing electronic payment services to the Vatican.

Cash only at the Vatican....

Serves them right..

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