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Banking royal commission: details of NAB staff in bribery ring emerge

NAB scandal involved falsified paperwork as staff raced to sign new loan customers, just one example of a litany of misconduct to emerge on first day of hearings

The banking royal commission has heard extraordinary evidence of National Australia Bank staff being involved in an alleged bribery ring covering multiple branches, forged documents, fake payslips and Medicare cards, with bribes being paid in cash to secure loans, as staff responded to an incentive program to sign up new customers.

The explosive evidence was heard on the first day of public hearings of the royal commission, where a litany of misconduct by Australia’s financial institutions was laid out for commissioner Kenneth Hayne, AC QC.

Related: Shades of Sir Humphrey in banking royal commission terms of reference | Greg Jericho

Related: Banking royal commission: Australian unions to collect victims’ stories

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Source: The Guardian