That is some computer error:
Reports last month that $1.8 billion had been transferred from the Vatican to Australia in recent years were incorrect and due to a “computer coding error,” Australia’s financial crime regulator has said.
Austrac told the Australian Senate it had significantly overestimated the transfers, and that instead only $7.4 million was transferred from the Vatican to Australia from 2014 to 2020. The number of transfers was also 362 as opposed to the 47,000 that the regulator had originally reported.
The computer coding error was believed to be the source of the miscalculation along with the inclusion of financial transfers to Italy in transfers to the Vatican City State, The Australian newspaper reported.
The news comes after weeks of collaboration with the Holy See Financial Information and Supervisory Authority into the alleged transfer of funds.
Go here to read the rest. Basic competence in performing one’s work is severely undervalued in the world today. It is astonishing that such an error was not found before the results of the error were broadcast around the globe.
Perhaps they paid a bit more to the right people and the “error” was “fixed”.
“Perhaps they paid a bit more to the right people and the “error” was “fixed”.”
I was thinking the same thing.
Dittos.
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A family member worked at a bank. Occasionally, they’d “loose” a million. They’d always find it–placed in the wrong account or something. Errors do happen.
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I have a hard time believing these adjusted amounts.
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They are lying. The money was sent and now they are trying to confuse the issue of the “legal” entities of “who” sent it. (Cue the clip of Captain Renault being shocked.)
https://www.ncregister.com/blog/transfer-coding-error
“Also not everyone is satisfied by the “coding error” explanation. Matthew O’Brien, a Philadelphia-based investment manager and Catholic analyst who advocates for financial reform in the Church, said he was “incredulous that Austrac would have made a mistake of this magnitude due to a simple clerical error in a formal report to parliament.”
He added that “a lot is riding on what is meant by ‘coding error,’” which he read as a disparity between the practices of Austrac and the Vatican’s financial watchdog in “categorizing the domicile of corporate entities.” O’Brien believes Austrac tabulated the billion-dollar number because it “coded the transfers originating from certain entities in Italy as ‘the Vatican,’” but that Vatican officials “objected,” saying they were “incorrectly coded because they originated in Italy.”
He said the problem, therefore, is whether certain entities count as “Italian or Vatican,” and gave as one of a number of examples Rome’s Bambino Gesù hospital — an entity that is part of Italy’s national health system, receives Italian and EU funding, is incorporated under Italian law, but is run by the Secretariat of State.
Should international bank transfers originating from there therefore be “coded” as Italian or Vatican, O’Brien asked. “I don’t know the answers to these questions,” he said, but added that he had “not seen anything yet reported that rules out” a possibility whereby Vatican officials approved billions of dollars of transfers through such Vatican entities. Austrac, he said, might have coded such transfers as coming from such an entity and labelled it “the Vatican” and the Vatican’s financial authority objected, saying it was a “coding error.” “
Obviously, Austrac must have hired Dominion Voting Systems to handle their programming.