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Securency board cleared Malaysian agent payment in 2007

12 September 2012 4:46PM
The Age and ABC collaboration continues regarding the question of who knew what and when at the Reserve Bank of Australia concerning the alleged payment of bribes at its Securency bank-note arm in the 2000s. Late yesterday, The Age newspaper produced its latest nugget: advice given to the Securency board in September 2007 that it must pay commission to an agent in Malaysia whose other business interests included arms dealing. Securency had already resolved to terminate the services of this agent.The two media organisations have published or broadcast a series of recent reports that contend senior staff and board members of Securency and Note Printing Australia, including RBA executives, were aware of the controversy over this and other payments in 2007.These disclosures may be inconsistent with the position of the RBA that it first learned of the allegations when they were first published in The Age in 2009.Last night, the RBA published a response to the report on its website that said: "The bank's executives acted in good faith and with integrity. It is completely without foundation to suggest otherwise."The committal hearing, on bribery and related charges, of eight people associated with the allegations at Securency began in the Melbourne Magistrates Court a month ago.Daily court reports on the case have faded from the metropolitan media.

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