Vatican In Trouble For Money Laundering And We Aren’t Surprised

For the love of God...and money.

For the love of God…and money.

The Vatican is full of stories of scandal and here is yet another.

We all know about the molestation, the regularly voiced contempt for LGBT Equality, and just the general nutjobbery coming out of that outfit, but it seems they may be in real trouble this time. According to the good folks at Skeptic Money, there are concerns about money laundering at the Vatican, and they were forced to go “cash only” as of January 1, 2013; all of their transactions now being blocked by the Bank of Italy. This causes real problems for the Catholic Cash Cow, because it means that the many tourists who flock to the place cannot use their credit cards there until these issues are resolved. This includes museum stores and hot spots such as the Sistine Chapel.

From The Globe and Mail:

Deutsche Bank Italia, which for some 15 years had provided the Vatican with electronic-payment services, said Thursday that the Bank of Italy had pulled its authorization after Dec. 31.

Well then! Whatcha gonna do now? Seems to me anyone who is God’s messenger here on Earth would be able to clear this up right away, but, thus far, that is not so. Apparently, they are “scrambling to resolve the problem” for their tourists and visitors. Uh huh. More like for themselves. Tourism is a big money-spinner for the opulent place and they know they better get this straightened out quickly, before they lose millions, methinks. After all, that vow of poverty is long-since forgotten, and the Pope has to be able to pay for robes laced with gold and his personal butler. Further, they gotta save for all those lawyer’s fees that are likely to come up if this goes any further.

Apparently, for right now, it is a simple case of not complying with European standards designed to discourage money laundering, and the Holy See has been working to get up to snuff but hasn’t yet met with full compliance. In other words, Italian banks are not authorized to operate inside the Vatican, Deutsche Bank Italia never sought authorization to operate there, and, when they did, they were denied because the Vatican isn’t complying with regular standards.

As the headline states, this is no surprise. Since when does the Catholic Church believe that it has to play by the same rules as the rest of us? Well, guess what, folks, they do now…or they get no banking services.

Read the entire report here at The Globe and Mail.