Vatican money transfers no crime: police

·1-min read

Federal police have been unable to identify any crime linked to money transfers from the Vatican to Australia after the amount was dramatically reduced.

Financial watchdog AUSTRAC in January found $9.5 million was transferred between 2014 and 2020, a fraction of the $2.3 billion originally reported.

Australian Federal Police deputy commissioner Ian McCartney confirmed the financial investigator had provided updated reports.

"We've reviewed that financial information and our position at this stage is we can't identify any misconduct in relation to that," he told a Senate estimates hearing in Canberra on Monday.

"Based on the information we've got, we've completed our inquiries."

AUSTRAC's error was attributed to a computer coding mistake after the Vatican contested the huge amount, which sparked speculation about potential money laundering.

Cardinal George Pell, who was the Vatican's treasurer from 2014 to 2017, said in January he was relieved to hear billions were not laundered while he was head of the Secretariat of the Economy.