It can catch all kinds of bugs, but you have to ask the correct questions. So it comes down to define what a bug is and the assumptions you use for testing. And therein lies the problem: what constitutes a bug? A function that add two numbers but bever terminates might be considered bugfree if forget to include as a bug that not giving an answer before the end of the universe is faulty behaviour. We humans are terrible at writing these kind of specifications, so formal verification as a method just pushes the correctness from code to specification.
