back to article Listed US tech provider bribed Oz bank worker say cops

A former banking industry IT executive has been arrested in Sydney for bribery over the handling of "lucrative" contracts. Police in the Australian state of New South Wales (NSW) made the arrest, but have provided scant detail about the matter. But the contract must have been big: as the boys in blue say “To date, more than US …

  1. This post has been deleted by its author

  2. btrower

    Blow me down!

    Corruption? In a Bank? Say it ain't so!

  3. Youngone Silver badge

    More arrests to follow?

    If a US company official has paid a bribe they have broken the law in the US as well, as far as I can tell.

    Once the US company is identified there should be some arrests there as well.

    Although in reality it will depend on how politically connected the US company is.

    1. btrower

      Re: More arrests to follow?

      Yeah, because when it comes to financial crimes and banks, the US is all over that. Does this also mean they will clear their backlog of charges from 2008 that they never laid?

      JK -- Australia already has a whole bunch of US military installations. There is no reason to make a fuss.

  4. Rob 5

    A sandwich short of a picnic

    "The alleged crime came to light after an Australian bank notified police after an internal investigation that “uncovered some suspicious payments that had been deposited into the bank accounts of two of the bank's senior IT staff, both Sydney-based US nationals”."

    So, what's being alleged is, these people took bribes in order to act against the best interests of the bank for which they worked, then deposited those bribes in accounts with that same bank.


    1. glen waverley

      Re: A sandwich short of a picnic

      Bank staff in Oz generally get perks on their personal accounts with their employer. Higher interest rate on deposits, lower or no fees, more favorable foreign exchange rates, that sort of thing. An extra 0.5 % interest and a lazy few basis points on the USD/AUD exchange on $1.5M might be worth it. Or maybe not. Actually, almost definitely not.

    2. I. Aproveofitspendingonspecificprojects

      Re: A silicon dioxide sandwich

      I think the main problem is that the bank is out of sorts with the idea its directors are silly enough to put the money for the bribes in the same bank. And then let the new data processors loose on it.

      It does sound a tad silly.

      Let's hope they replace them with people who have a clue about IT.

    3. glen waverley

      Re: A sandwich short of a picnic

      Further information comes to hand via the online edition of The Age.


      Some of the money was paid into an account held with the Commonwealth Bank.

      Asked if that was a "blunder", Superintendent Arthur Katsogiannis replied: "What do you think?"


      1. Rob 5
        Thumb Up

        Re: A sandwich short of a picnic


  5. This post has been deleted by its author

  6. Anonymous Coward
    Anonymous Coward

    Which Bank?

    What a bunch of silly bankers!

  7. Anonymous Coward

    The "company"

    CSC owned Servicemesh ...there, why not mention the company? its all in the news...

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