Aussies ignored Malaysian banknote scandal

A 'secret' memo warning a Reserve Bank of Australia dual years ago prior to a polymer banknote copy scandal, involving a Bank Negara official as well as a Malaysian agent, was ignored.

PETALING JAYA: A "private as well as confidential" memo warning top officials of Australia's senior manager bank of possible corruption, involving a Malaysian agent, between others, was funded from a Australian council as well as police.

The memo was about a Reserve Bank of Australia's subsidiaries Note Printing Australia (NPA) Ltd as well as Securency International upon getting contracts to imitation polymer banknotes for Malaysia .

Pressure mounted today for an independent inquiry in to allegations which a Reserve Bank of Australia (RBA) lonesome up justification of temptation by a note-printing subsidiaries.

Eight management team from dual firms possibly wholly or part-owned by RBA NPA as well as Securency International are facing claims they conspired to cheat officials during unfamiliar banks to secure contracts to have plastic banknotes.

This is pronounced to be a single of a misfortune cases of crime in Australian history.

The Australian newspaper The Age pennyless a story today. The paper pronounced a memo was sent in 2007 to "deputy governor of RBA" by Brian Hood, a comparison commercial operation senior manager of NPA.

The RBA is right away being accused of a cover-up, as this ask was never prior to revealed despite a parliamentary cabinet investigating a matter.

The RBA had released a statement denying which it had misled a parliamentary committee, explaining which a pronounced ask was "not new".

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According to The Age, a memo had, between alternative matters, warned which "extraordinarily" large payments done by NPA to a Malaysian representative had been used to have "payments to others including officials as well as politicians".

It additionally pronounced which a Malaysian representative had admitted which such payoffs were "the accepted approach of you do commercial operation in which partial of a world".

Malaysian middleman

The same representative had asked for NPA's funds to be destined to an ANZ account of a mystery "nominated individual" whose "position" a lobbyist refused to disclose.

An online transcript of a memo read: "My concerns over probity in respect of a Malaysian representative first arose when he requested elect funds overdue to him be destined to an ANZ Brisbane account of a nominated individual."

"When we indicated which this ask wouldn't be entertained by NPA, he retracted a request. The representative would not insist what position/role a nominated particular held.

"During a visit to Melbourne, a representative sought to encourage me which traffic by such 'networks' was a accepted approach of you do commercial operation in which partial of a world," Hood additionally wrote in a memo.

The memo additionally pronounced which NPA was giving a abroad agents "greatly exceeded" industry standards as well as which those agents had admitted profitable off officials.

While a Malaysian representative was not specifically named in a memo, bureau worker Abdul Kayum Syed Ahmad has been repeatedly singled out as a Malaysian pull representing NPA as well as Securency in! a scand al.

The liaison pennyless out in 2009 after headlines reports forced RBA to initiate investigations with a police. It is bootleg in Australia to make use of middlemen to gain supervision contracts.

In July, 2011, a Malaysian Anti-Corruption Commission (MACC) conducted joint investigations with a Australian Federal Police (AFP) in which 6 Australian management team from a dual banknote companies, as well as dual Malaysians were arrested.

Abdul Kayum, 62, who is additionally an arms dealer, was charged with giving bribes amounting to RM100,000 by a pull to former Bank Negara assistant governor Mohamad Daud Dol Moin for help in procuring a polymer note copy contract.

Tip of a iceberg

Daud was purported to have perceived a cheat to gain a contract, which saw NPA as well as Securency International awarded a RM95 million stipulate to imitation a RM5 polymer notes.

Abdul Kayum is charged underneath Section 11 (a) of a Anti-Corruption Act as well as faces up to twenty years in prison as well as a fine of five times a cheat amount. He faces a same chastisement underneath Section sixteen of a Anti-Corruption Act if found guilty.

Daud, 58, was charged with usurpation a RM100,000 cheat from Abdul Kayum to help secure a contract. Daud faces a same punishement if convicted underneath Section 11(a).

Both men, accused of giving as well as reception dual bribes of RM50,000 any between Dec 1, 2004, as well as Feb 16, 2005, had pleaded not guilty.

Meanwhile, a 6 former employees of NPA as well as Securency International were afterwards additionally charged during a Sydney magistrate's court with "bribing Asian officials to secure contracts to imitation their currencies".

They were former Securency arch senior manager Myles Curtis; former NPA arch senior manager John Leckenby; former Securency arch monetary officer Mitchell Anderson; former NPA arch monetar! y office r Peter Hutchinson; former Securency sales senior manager Rognvald Marchant and
former NPA sales senior manager Barry Brady.

Although Abdul Kayum is pronounced to be during a centre of a investigations for Malaysian as well as Australian police, it was reported which a charging of Daud was usually a "tip of a iceberg", with some-more comparison officials concerned in a scandal.

Former prime minister Abdullah Ahmad Badawi had to repudiate allegations which dual Australian banknote firms attempted to cheat him for a RM100 million Malaysian banking stipulate when he was still in office.

The Age had reported which anti-graft authorities hold Securency International as well as NPA allegedly sought to cheat Abdullah in 2003, with partial of RM13.5 million in commissions done to dual Malaysian middlemen.

Other than Kayum, a alternative representative for Securency International as well as NPA was named as former Umno state representative Abdullah Hasnan Kamaruddin.

Home Minister Hishammuddin Hussein's name was additionally mentioned in a liaison as an additional report had purported which Securency International had hired a association chaired by his hermit to help it win banknote contracts in Malaysia in 2009 as it could "offer it access to, as well as change over,
Malaysia's top politicians".

The company, Liberal Texhnology Sdn Bhd, later pronounced which Haris Onn Hussein, who is additionally Prime Minister Najib Tun Razak's cousin, had sole his shares in 2006

Previously, it was additionally reported which 3 people were charged with being paid RM11.3 million to secure a stipulate from Bank Negara as well as to safeguard which a supervision of Malaysia opted for polymer notes.

Meanwhile, RBA governor Glenn Stevens is expected to face questions about a allegations as well as a 2007 memo during a parliamentary cabinet conference in Canberra upon Friday.

The memo apparently contradi! cts seve ral prior statements done by Stevens to a sovereign parliamentary cabinet in 2011 which a RBA did not know of bribes as well as crime inside a subsidiaries prior to a 2009 reports.

Stevens had later prepared his sworn statement to say which a ask had been provided to his emissary Ric Battellino, who is right away retired.

The military inquiry began in May 2009 after The Age unprotected a scandal.

Securency International prints polymer banknotes for 30 countries as well as was responsible for a 1998 Kuala Lumpur Commonwealth Games RM50 memorial notes. The association itself has additionally been charged with 3 counts of swindling to change unfamiliar officials.

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