Internal disclosure proves painful for bank executive

The experience of an Australian whistleblower highlights the perils of first taking a disclosure to one’s superiors.

THE whistleblower who exposed alleged corruption in two Reserve Bank companies told five top bank officials of his explosive concerns, only to be forced out of his job and warned to keep quiet.

The whistleblower is Brian Hood, a former executive with Note Printing Australia. Police learned about his concerns in 2009 after the Sidney Morning Herald published an expose. “Last year, the police charged several former executives of NPA and Securency with bribery offences related to business deals in Malaysia, Indonesia, Vietnam and Nepal,” reports the Herald.

The revelations about what the former executive Brian Hood has told the federal police investigating the scandal raise serious questions about whether Reserve officials risked breaking laws by misleading Parliament, covering up corruption or victimising a whistleblower.

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