Silver as an investment

Vatican Bank To Shut All Embassy Accounts To Halt Money Laundering

from Zero Hedge

Followng Pope Francis’ demand that the Vatican Bank review its procedures, Reuters reports that the bank is likely to close all accounts held by foreign embassies, following concerns about large cash deposits and withdrawals by the missions of Iran, Iraq and Indonesia, according to people with knowledge of the situation. The private bank IOR has around EUR7.1 billion in assets but is concerned it could be “an unwitting vehicle for money laundering and other illicit finances.”

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