🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australian police find nothing criminal in Vatican fund transfers

Published 23/03/2021, 05:32 pm
© Reuters.

By Sonali Paul

MELBOURNE, March 23 (Reuters) - Australian police said on Tuesday that they had found nothing criminal in the transfer of A$9.5 million ($7.3 million) from the Vatican to Australia between 2014 and 2020.

Financial crime watchdog AUSTRAC scrutinised the transactions after Italian media reported in September that large sums of money had been sent to Australia during the trial of former Vatican treasurer Cardinal George Pell, who had faced charges of historical child sexual assault.

There was speculation in the media that some of the funds were sent to cover Pell's legal costs or that some was sent by a rival in the Vatican to help build cases against him. was acquitted by Australia's High Court last April after serving 13 months in jail on charges he assaulted two choirboys. He returned to Rome last September.

After reviewing data provided by AUSTRAC, the Australian Federal Police said nothing illegal had been uncovered related to the transactions.

"No criminal misconduct has been identified," a spokeswoman for the police said in emailed comments, without elaborating on how the funds were used.

AUSTRAC had originally put the sum transferred at A$2.3 billion, but slashed its estimate to a fraction of that amount after a shocked Vatican called for the watchdog to check its calculations.

AUSTRAC blamed its miscalculation on complexities and inconsistencies in data it had received from international institutions. = 1.2968 Australian dollars)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.