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Bribery scandal rocks RBA currency firms

Bribery scandal rocks RBA currency firms

(4 July 2011 – Australia) Two Reserve Bank of Australia (RBA) currency firms have been charged with paying massive bribes to foreign officials in order to win banknote supply contracts. The two firms, Securency and Note Printing Australia (NPA), along with several of the company’s senior managers were caught after a series of dawn raids by Australian Federal Police (AFP) on houses across Melbourne.

The arrests include six former senior executives of Securency and Note Printing Australia, companies which are overseen by the RBA.

Overseas law enforcement agencies also swooped on suspects in Malaysia, arresting two people.

The arrests and charges mark a major milestone in Australia's biggest bribery scandal and are the first time foreign bribery laws have been used in the nation's history.

A federal police statement released on Friday said: 'The AFP will allege that during the period 1999-2005, senior managers from Securency and NPA utilised international sales agents to bribe foreign public officials in order to secure banknote contracts.'

The six men arrested are due to appear in the Melbourne Magistrates Court and are facing up to 10 years' jail each over allegations they had various roles in a scheme involving the payment of multimillion dollar kickbacks to high-ranking officials in Malaysia, Vietnam and Indonesia.
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