NAB target of alleged fraud by ex-employee

April 10, 2018

Police are investigating an alleged corporate fraud involving a former NAB employee and contractor.

Police are investigating an alleged multi-million dollar corporate fraud at National Australia Bank that is understood to involve a former employee of the institution and a former supplier.

A police task force raided two businesses and a home in Sydney on Tuesday as part of an investigation into allegations that corrupt commissions were paid to secure the payment of inflated invoices by the bank.

Detectives believe tens of millions of dollars may have been taken over a number of years before the bank became aware of the issue early in 2018 and notified police, but NAB chief executive Andrew Thorburn has told staff that no customers have been affected.

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