Australia “Do as I Say, Not as I Do” – The Ongoing Reserve Bank of Australia Bribery Scandal

Although Australia is listed in the top 10 least perceived corrupt countries in the world by Transparency International, an ongoing bribery case involving the companies Securency International and Note Printing Australia, which are jointly owned by the Reserve Bank of Australia (RBA) is causing embarrassment to the Australian Government. The RBA is Australia’s central bank and as such is responsible for money supply and the setting of interest rates, an integral part of any country’s monetary policy. Consequently the banker to the government other banks must not just act with integrity, it must be trusted as an institution beyond reproach if the financial system and public are to maintain confidence in the institution.