The Reserve Bank of Australia may have breached sanctions on trade with Iraq in 1998 by seeking to sell plastic banknotes to the regime.
In a media report, it has been stated that the RBA subsidiary Note Printing Australia and its associate Securency used a brother-in-law of Saddam Hussein as a ''facilitator'' in the attempted sale. Late in 198 the Department of Foreign Affairs and Trade learned of the dealings and warned off the NPA.
Nine former Note Printing Australia and Securency face charges of foreign bribery offences on other matters associated with their overseas sales. It has been reported that one of the executives has already been convicted his role in fostering the payment of bribes to sales agents.