Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
There have been only two foreign bribery prosecutions in Australia — one involving banknote printing companies Securency and Note Printing Australia, and another involving the construction company Lifese.
Why so little enforcement activity?… Continue Reading
Wikileaks Tuesday released what it said is “an unprecedented Australian censorship order concerning a multi-million dollar corruption case explicitly naming the current and past heads of state of Indonesia, Malaysia and Vietnam, their relatives and other senior officials.”… Continue Reading
Country: Australia
Company Involved: Securency International
Industry: Financials
Industry Subsector: Banks
Officials Involved: Herman Joseph Susmanto, Indonesian central bank currency chief; Le Duc Thuy, former Vietnam State Bank governor; Mohamed Daud Dol Moin, former assistant governor of the Malaysian central bank; Elizabeth Masamune, former senior Austrade commissioner
Enforcement Action: Charge
Summary: A total of nine former executives of the Reserve Bank of Australia (RBA)’s banknote-printing unit Note Printing Australia and its sister company, Securency International, have been charged by Australian authorities with bribing officials in Malaysia, Indonesia, Nepal, and Vietnam to win lucrative contracts.… Continue Reading
Country: Nigeria
Company Involved: Securency International
Industry: Consumer Services
Industry Subsector: Printing
Official Involved: Charles Soludo, former governor of the Central Bank of Nigeria (CBN)
Enforcement Action: Arrest
Summary: Charles Soludo was arrested by the Economic and Financial Crimes Commission.… Continue Reading
The government investigation into the Reserve Bank of Australia led last week to RBA’s subsidiary, Austrade, and allegations of massive bribes paid to a Vietnamese spy by his Australian lover.
Elizabeth Masamune, a senior trade commissioner with Austrade admitted to an affair with Vietnam’s Colonel Anh Ngoc Luong, a senior official in the state intelligence service.… Continue Reading
There was explosive testimony this week during parliamentary hearings into bribery allegations against a unit of the Reserve Bank of Australia.
RBA subsidiary Securency allegedly paid bribes in Asia, Latin America, and Africa to win currency printing contracts, according to a former salesman for Securency and its sister company Note Printing Australia.… Continue Reading
The Guardian today reported the arrest of a British businessman who allegedly paid for the son of a Vietnamese state bank governor to attend Durham University in the U.K. in exchange for a banknote printing deal.… Continue Reading
There were three more arrests last week in the corruption investigation of Securency International Pty Ltd, the polymer banknote maker half owned by the Reserve Bank of Australia.
The U.K.’s Serious Fraud Office said a sixty-three year old British man, and a British couple who are residents of Spain, were arrested in London.… Continue Reading
The long-simmering Securency scandal erupted this week, with arrests in the U.K., and searches of houses and businesses in England, Spain, and Australia.
The U.K.’s Serious Fraud Office said Wednesday 80 members of its office, plus officers in Surrey, Hampshire, Thames Valley, Cumbria, and the Metropolitan police services executed search warrants at eight residences and a business in the UK.… Continue Reading
Hologram on a 50-Euro bill.Last week Canadian authorities said they’ve charged Nazir Karigar, a Canadian citizen, with violating the Corruption of Foreign Public Officials Act. He allegedly bribed an Indian official to win a contract for his company.… Continue Reading
In July 2001, the president of American Bank Note Holographics pleaded guilty to a four-count federal criminal information. It charged him with conspiracy to defraud the U.S., a books-and-records violation, making false statements to auditors, and conspiracy to violate the FCPA.… Continue Reading
A month ago we asked what’s wrong in Australia. Despite multiple overseas bribery scandals, there’s been no sign of enforcement activity by the Australian Securities & Investments Commission — the chief anti-corruption agency — or anyone else down under.… Continue Reading
