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Review shows AUSTRAC data error: Vatican

A joint review of money transfers from the Vatican to Australia shows that between 2014 and 2020 only $A9.5 million transited instead of the $A2.3 billion originally calculated by Australia’s financial watchdog, the Vatican says.

The Vatican contested the huge figures in December and asked the Australian financial intelligence unit known as AUSTRAC to review its calculations.

AUSTRAC’s error was first reported by the Australian newspaper earlier on Wednesday, which said it was due to a computer coding mistake.

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