A former senior Commonwealth Bank IT executive has been arrested and charged with bribery as part of an ongoing investigation by the United States’ Federal Bureau of Investigation (FBI) and Australian fraud and cybercrime officers.
Earlier this year police were contacted by CommBank after internal investigations uncovered more than $US1.5 million in suspicious payments that had been deposited into the bank accounts of two of the bank’s senior IT staff, both Sydney-based US nationals.
On Wednesday officers from the Corporate Corruption Unit arrested a 61-year-old man at a unit in Surry Hills, Sydney.
The man was charged with two counts of bribery, before being refused bail to appear before Central Local Court today.
In court, detectives will allege that two of the bank’s (now former) employees were involved in a corrupt relationship with a now publicly-listed overseas technology provider.
Police will also allege that the managers granted the US-headquartered IT company a lucrative contract without putting it to public tender. In exchange, the managers allegedly received payment.
To date, more than $US1.5 million in suspected corrupt payments have been frozen by officers from the Fraud and Cybercrime Squad.
The investigation is ongoing and police said they’re keen to speak to another of the bank’s former senior IT managers, who is currently overseas. The FBI will assist with these inquiries.