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Total Disgrace: Reputation of Australia's Financial "Watchdog" Ruined

The government's financial watchdog Austrac told the Australian Senate it "over-estimated" bank transfers from the Vatican to Australia for the past six years by more than AUS$2 billion (!).

Before Christmas, Austrac had told a Senate committee that $2.3 billion had been transferred to Australia from Vatican City. This canard cause a huge media storm.

Now, Austrac says that the total value of the transactions between 2014 and 2020 was $9.5 million (!), TheAustralian.com.au reports (January 13).

As the source of the “miscalculation," Austrac presented to the world a “coding error.” Now, the question arrises: “Quis custodiet ipsos custodes?” - Who will guard the guards?

Picture: © Douglas Kelley, CC BY-NC, #newsRkdgblputm

Maria Pocs
That’s a pretty big miscalculation!
Tesa
A $2 billion oopsie.
GTVisrockin
No one in Australia that's for sure, way to many crooks on the take, especially in Victoria with that piece of communist/socialist gutter trash Daniel Scumbag Andrews!