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Reserve Bank facing new senate inquiry bid

Today's revelation in the Age that the Reserve Bank's subsidiary Securency funnelled $7.25 million offshore last year in suspect dealings warrants a Senate Inquiry. 

This is despite the police investigations already underway into earlier accusations, Australian Greens Leader Bob Brown said in Melbourne today.

"If these front page allegations are true, the Reserve Bank can be seen as a colossal failure in applying due diligence to its half-owned Securency subsidiaries," Senator Brown said.

"Despite previous rebuffs in getting the Senate to scrutinise Securency's involvement in bribery and corruption overseas, this demands parliamentary investigation. 

"At last, a government 'source' sees this latest claim on behaviour like a 'sophisticated criminal syndicate, not a Reserve Bank company'.

"I will move for an inquiry this week," Senator Brown said. 

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