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Securency & Note Printing Australia officials charged with bribery


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Dirty money in printing money




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.


Read more: http://www.theage.com.au/business/former-securency-bosses-arrested-20110701-1gtr8.html#ixzz1QqeTK2V9



It's shaping up as one of Australia's biggest corruption trails and it will be interesting to see who heads roll!

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Based on what's posted (without reading the links), it sounds like some Australian companies produce notes for other countries (the polymer for the Canadian 2011- banknotes series, for example, is sourced from Australia), and the companies' and/or their execs paid bribes to (other countries who needed notes printed for them) secure contracts.


I'm kind of suprised as to why they felt this was necessary. I also find it weird that the gov't, directly or not, has an interest in their banknote producing companies.

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