General
Review shows Australia made huge miscalculation on funds transfers, Vatican says
Australia’s financial watchdog has drastically reduced the sum of money it says was sent from the Vatican to Australia, the Vatican says, after it earlier reported a huge figure that raised suspicions of money laundering.
Key points:
- A Vatican statement called the mistake “a huge discrepancy”
- AUSTRAC’s error was first reported by the Australian newspaper, which said it was due to a computer coding mistake
- Cardinal George Pell, who was the Vatican’s treasurer from 2014 to 2017, said he was “relieved”
The joint Vatican-Australian review showed only $9.5 million was transited between 2014 and 2020, a fraction of the $2.3 billion originally reported by the watchdog to widespread astonishment.
The Vatican contested the huge figures in December and…
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