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Alleged Vatican Transactions in Australia: Wrong Numbers

The Australian Financial Supervisory Authority, which has talked about a transfer of 1.4 billion euros in the past six years, admits to the miscalculation: it was 6 million euros. The Holy See: “The form which is attributable, among other things, to certain contractual obligations and the regular management of its resources”

Vatican News

Resolved the issue of the massive money transfers that were to be transferred from the Holy See to Australia. It wasn’t 1.4 billion euros for 47,000 financial deals in the last six years, but 6 million euros for 362 deals. The Australian Center for Transaction Reporting and Analysis (AUSTRAC), an Australian financial supervisory body, released a statement on The Australian website admitting that it has greatly overestimated the flow of these remittances. AUSTRAC, who also considered operations with Vatican Italy, wrote: “Computer coding error is believed to be the root of miscalculation.”

As you will recall, in recent weeks, AUSTRAC stated, in response to a parliamentary question from Australian Senator Consita Firavante Wells, that from 2014 to 2020, sums equal to 1.4 billion euros (2.3 billion) were sent to Australia by the Vatican. Billions of Australian dollars), for a total of about 47,000 individual transfers. An enormous number, which immediately appeared unrealistic, whether in terms of the volume of funds or the number of operations, because it was completely inconsistent with the movements of the Holy See.

Subsequent checks, requested by the Holy See, and carried out jointly by AUSTRAC with the ASIF, and the Vatican Financial and Information Supervisory Authority, have led to a significant decrease in the amount: in the past six years, transfers of funds made by entities associated with the Vatican account for 9.5 million Australian dollars, i.e. Equivalent to 6 million euros, for a total of 362 transfers made during that period.

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“ The Holy See – reads a press release issued today – takes note of the results of the verification requested, which was conducted jointly by ASIF and AUSTRAC and the massive discrepancy reported by an Australian newspaper today, regarding the previous data disclosing the financial transactions that the Vatican carried out to Australia between 2014 And 2020: 9.5 million versus A $ 2.3 billion.

“The number – and the note complements – is attributed, among other things, to some contractual obligations and to the regular management of its resources. On this occasion, the Holy See reaffirms respect for the country’s institutions and expresses its satisfaction for cooperation between the entities concerned.”

Earl Warner

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