Australia's Greens Want Inquiry Into RBA's Banknote Operations

22 Aug 2012
By Enda Curran SYDNEY--Australia's influential Greens party on Wednesday called for a full scale inquiry into foreign corruption allegations that have dogged the currency printing unit of the Reserve Bank of Australia. Melbourne-based Securency International Pty Ltd., which is owned by the Reserve Bank of Australia and Innovia Films, is alleged by police to have bribed foreign officials in Malaysia, Vietnam and Indonesia to win contracts to print their currency notes. Securency makes the polymer substrate used in banknotes in 27 countries around the world from Bangladesh to Zambia and has been embroiled in a series of bribery and misconduct allegations since May 2009 regarding the conduct of some of its former staff in winning orders from overseas governments The Greens made the call after local media claimed the RBA was made aware of the bribery allegations in 2007 but didn't call in authorities until two years later, a charge denied by the RBA which says it has acted correctly from the moment it first became aware of the allegations. A push by the Greens in 2011 for an inquiry failed after the two biggest parties, Labor and the Liberal-National coalition, blocked the proposal. "The other parties should now back the Greens' call for a full-scale inquiry," said Adam Bandt, deputy leader of the Greens.