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RBA Accused Of Covering Up Corruption

Posted by on in BANKSTERS
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Had to love the very last line of this article....priceless!


http://www.heraldsun.com.au/news/breaking-news/rba-accused-of-covering-up-corruption/story-e6frf7kf-1226445929914


AN anti-corruption body has accused the Reserve Bank of Australia of covering up evidence of bribery by its note-printing subsidiaries.

The RBA has been accused of covering up evidence of corruption by its note-printing subsidiaries. 

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

Although no RBA officials or staff have been charged, the central bank has faced allegations it suppressed evidence of secret commissions paid to middle men hired by the subsidiaries to secure bank note contracts in Malaysia and Nepal.

Transparency International Australia's executive director Michael Ahrens said the RBA's behaviour in the case was "tantamount to a cover-up".

"We do believe that it was incumbent upon them to report promptly any credible evidence of the sort that seems to have emerged," he told a parliamentary inquiry hearing in Canberra on Wednesday.

The RBA has been criticised for referring the allegations to a law firm before referring them to the police.

Mr Ahrens said the RBA's failure to refer the issue promptly to the police "will add to the damage to our international reputation".

"These cases that are emerging in Australia are not just bad apples. They're failure of systems (and) failure of controls," he said.

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  • doyla66
    doyla66 Tuesday, 14 August 2012

    But wait! There's more....

    But wait.... there's more. And it gets even worse for the banks. There's been a guilty plea now from a top CFO...

    http://www.theage.com.au/opinion/political-news/guilty-plea-in-rba-scandal-20120718-22ap8.html

    What is an RBA subsidiary official even 'talking' to a recognised Malaysian arms dealer for? If that doesn't beg for a Royal Commission, I'll eat my fez!

    How corrupt are these bastards? No wonder our banking sector is so popular to all corners of the world these days, it seems we may have become the latest haven for illicit money.

    If you haven't seen it yet, get a copy of 'The International'. - http://en.wikipedia.org/wiki/The_International_(film)

    It's incredible and accurately traces the Bank of Credit and Commerce International (BCCI) scandal of the '70's.
    - http://en.wikipedia.org/wiki/Bank_of_Credit_and_Commerce_International

    The money laundering never stopped after BCCI went down, it just found a series of new homes. Could it be that Australia is on the list?

  • doyla66
    doyla66 Tuesday, 14 August 2012

    "These cases that are emerging in Australia are not just bad apples. They're failure of systems (and) failure of controls," he said.

    I'm glad someone else can see that. This is systemic crime.

    I wonder what the RBA staff took to the negotiations to improve their odds? A friend used to work for Santos and when he was negotiating with Burmese warlords it was customary to bring two bottles of Johnny Walker Black Label ... as a gift ... of course ... "governance" can mean different things to other cultures ...

    Well, we won't have to ask you how you'd like your fez done, last-laf, ie. sauteed or steamed, mayo or oil, with or without MacBank fries!

    Watch every anti-crime business and consultant now climb aboard the Banking Royal Commission express!
    And every informer and insider dob in others to save their own stinking skins. Rats in the Ranks has nothing on what this little baby will grow into!
    ABC investigators and doco makers are going to love it! Start writing your arts grant submissions, people...
    Media feeding frenzy! Watch them switch from their current tentativeness and move in for the kill!
    Starting to sell the advertising space yet?
    ...and front row seats to the Banking Royal Commission? ...
    Do they have Corporate Boxes at Royal Commissions?
    Ring side seats for the showdown?
    Fashion shots in the foyer at the Banking Royal Commission ...

    But I'm getting ahead of myself...
    Seriously...
    We just needed to crack the casing ...
    Denise's opening bombshell stole the show ...

    I can hardly wait :)

  • doyla66
    doyla66 Tuesday, 14 August 2012

    Royal Commission into "Gang of 36"(banksters); attempting to pervert the course of justice by way of knowingly concealment of true & real facts & circumstances pertaining to pervasive Low/NoDoc banker Scandal = jail time, surely!!!! They're right, this scandal is not systemic vis a vis "standard banking practice" to completely abandon their individual statutory obligations on the part of each & every respective "Gang of 36"!!!!

  • doyla66
    doyla66 Tuesday, 14 August 2012

    Maybe the crime isn't systemic... we don't know the extent of it yet.
    The culture of coverups within government agencies and regulators is, however.
    And the culture that makes statements like :-
    "J.P.Morgan chief says that having bank regulation is similar to living under communist control".
    This is the same company that is a major shareholder in "our" Big 4 banks.
    A major driver in the corruption of our Australian banking industry.
    Strict enforcement of regulations may even drive these guys out of the Australian banking Game.
    If attitudes create events then we have to shift our banks' systemic bad attitudes and get our banks to straighten up and fly right.
    The time has come to toughen up on corporate crime.
    Otherwise we may as well grab our passports leave.

  • doyla66
    doyla66 Wednesday, 12 September 2012

    No matter from where you are its same every where corruption - corruption . worst is guys get involves in big scams and get out easily with out any trouble. cos they are being helped by other corrupt person may be a politician or policemen. Its All Scams.

    Corporate Branding

  • doyla66
    doyla66 Wednesday, 12 September 2012

    No matter from where you are its same every where corruption - corruption . worst is guys get involves in big scams and get out easily with out any trouble. cos they are being helped by other corrupt person may be a politician or policemen. Its All Scams.

    Corporate Branding

  • doyla66
    doyla66 Wednesday, 12 September 2012

    No matter from where you are its same every where corruption - corruption . worst is guys get involves in big scams and get out easily with out any trouble. cos they are being helped by other corrupt person may be a politician or policemen. Its All Scams.

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