Central Banking

RBA subsidiary chief ousted in graft probe

myles-curtis

The managing director of a Reserve Bank of Australia offshoot has been asked to step down as part of an investigation into allegations that the company bribed foreign officials in a bid to secure note-printing contracts.

Myles Curtis, the managing director of Securency, which manufactures the polymer substrate used in banknotes, stood aside hours after police raided his home and the company's Melbourne offices.

The Age, an Australian newspaper, alleged in May that Securency, which is half-owned

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