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Thread ID: 124061 2012-04-03 19:50:00 JP Morgan Closes Vatican Bank's Account SurferJoe46 (51) PC World Chat
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1268225 2012-04-03 19:50:00 From: The Ottawa Citizen - Canada

www.ottawacitizen.com

Thirty years after it was entangled in a scandal involving the mafia, money laundering and the mysterious death of the man nicknamed "God's banker," the Vatican bank faces fresh controversy.

The bank - formally known as the Institute for Works of Religion or IOR - has suffered the ignominy of having one of its accounts closed by JP Morgan after stone-walling requests for information.

The sanction came less than two weeks after the U.S. State Department listed the Vatican as being potentially vulnerable to money laundering.

A Milan affiliate of JP Morgan said it will shut the account by the end of the month after revealing Vatican bankers had been "unable to respond" to requests for details about payments into the account.

The scandal prompted the Vatican bank to initiate anti-money-laundering legislation, which is currently being debated by the Roman Catholic Church hierarchy.

Yup - debate morality - that's always good PR.
SurferJoe46 (51)
1268226 2012-04-04 01:33:00 That ("Yup - debate morality - that's always good PR. ") is standard policy, practicing it isn't necessarily quite so regularly attempted. R2x1 (4628)
1268227 2012-04-04 01:56:00 I have read the book about the man who was God's banker. Well worth the read if you ever come across it, the Catholic church is still even today one scary organisation gary67 (56)
1268228 2012-04-04 08:57:00 I have read the book about the man who was God's banker. Well worth the read if you ever come across it, the Catholic church is still even today one scary organisation
Was a real eye opener reading that book. Total hypocrites. They also had money invested in a condom factory.
mikebartnz (21)
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