Securency Scandal

Federal police have charged two Reserve Bank of Australia currency firms, Securency and Note Printing Australia, along with several of the company’s former senior managers with paying massive bribes to foreign officials in order to win banknote supply contracts.

In a series of dawn raids, AFP agents swooped on houses across Melbourne, arresting six former senior executives of Securency and Note Printing Australia, companies which are respectively half and fully owned and overseen by the Reserve Bank of Australia.

The former banknote executives charged are former Securency chief executive Myles Curtis, former Note Printing Australia chief executive John Leckenby, former Securency chief financial officer Mitchell Anderson, former NPA chief financial officer Peter Hutchinson, former Securency sales executive Ron Marchant and former NPA sales executive Barry Brady.

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

Those arrested no longer work for the companies.

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 this morning 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.”

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McKenzie, Nick and Richard Baker. “Former Securency Bosses Arrested” The Age. 1 July 2011.

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