The National Australia Bank has confirmed that it “is the victim” of an alleged multimillion-dollar fraud, which media reports suggest was perpetrated by a business director.
ABC News reported that Sydney woman Helen Rosamond, director of Human Group, was arrested on Friday (1 March) over allegations of being involved in a multimillion-dollar fraud against the bank.
It said that Human Group was a former supplier to NAB, and Ms Rosamond now faces the prospect of being charged with 56 counts of bribery and two counts of gaining benefits by deception.
At a press conference, a spokesman for NSW Police said that there was a long history between the “human training company” and “a financial institution”, going back 12 years and worth some $118 million.
“We arrested a 43-year-old woman, who is the owner of the training company, and she has been conveyed to Kings Cross Police Station where she will be charged with 56 counts of bribing an agent and two counts of obtaining benefit by deception relating to $6.6 million,” he said.
The spokesman said that the money “was paid in corrupt commissions to ensure contract viability and to overpay contracts that were legitimate”, with the total amount relating to this fraud coming to $40 million.
He added that forensic accountants are scrutinising a period between 2013 and 2017.
While NSW Police did not immediately identify the parties involved, NAB subsequently issued a brief statement confirming that it was the “financial institution” in question.
“NAB is the victim in this matter. Police have confirmed that no one at NAB is under investigation, including former CEO Andrew Thorburn, and there is no suggestion of any wrongdoing by anyone at NAB,” the bank said.
“The alleged fraud was reported by a whistleblower. NAB responded immediately, investigated and reported it to police.
“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.
“We continue to cooperate fully with police and we thank them for their important work in investigating this matter.”
NAB concluded by stating that “while this remains before the court, it is not appropriate for us to comment further”.
Human Group did not respond to a request for comment.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.