Vatican: Visitors Must Declare Cash
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The Vatican put a new rule into effect on Friday requiring that anyone bringing 10,000 euros (about $14,000) or more into Vatican City declare it to Vatican authorities. The rule is part of new anti-money-laundering regulations aimed at bringing the Vatican in line with international standards on financial transparency and helping it shed its image as a tax shelter. Italian authorities are investigating the Vatican Bank for money laundering. The Vatican has denied wrongdoing.
First Published April 2, 2011 12:01 am