12 March 2012

ASIC will not investigate securency issue

The corporate watchdog says it will not investigate bribery allegations against Reserve Bank of Australia (RBA) note printing subsidiaries.

The Australian Securities and Investments Commission (ASIC) said on Monday the decision not to pursue the matter came after a review of material provided by the Australian Federal Police (AFP).

"In line with its normal practice, ASIC has reviewed this material from the AFP for possible directors' duty breaches of the Corporations Act and has decided not to proceed to a formal investigation," ASIC said in a statement.

Seven former employees of the two companies - Securency International and Note Printing Australia (NPA) - and the companies themselves were charged by the AFP with bribing foreign officials to secure contracts to print bank notes.

The RBA owns 50 per cent of Securency and 100 per cent of NPA.

It has since sought to sell its stake in Securency.

ninemsn.com.au 12 Mar 2012

Another example of high level corruption with the entire support of the brotherhood from the legal system

These people are above the law and truly untouchable.


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