Vatican City – a possible hub for hawala

published on April 3, 2012

Wiki Leaks exposed the rampant corruption scandals in the Holy city Vatican. It is also alleged that the Vatican Bank failed to implement laws against money laundering. US State Department for the first time listed the Vatican as potentially hub for money laundering along with 67 other countries. The Department’s annual International Narcotics Control Strategy Report (2012) listed the Vatican as a ‘jurisdiction of concern’, along with other countries like Albania, Czech, Egypt, South Korea, Malaysia etc.

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