The Australian Crime Commission has opened an investigation into whether an account held by the Australian Bureau of Statistics (ABS) has been hijacked by criminals.
The account was used to make money off of the sale of financial services, including mortgages, car loans and insurance.MPI has denied any wrongdoing.
The Australian Crime Commissioner’s office said it was seeking to determine whether the account could be used to commit crimes, including the theft of money and property.
“We are looking to determine how the account was accessed and used,” said Assistant Commissioner David Macdonald.
“The investigation is ongoing and we are asking for the public’s assistance.”
“We will be looking at the details of any breach of security and are working with relevant law enforcement and forensic agencies to ascertain whether it is a crime, or a crime of opportunity,” he said.
The MPI account was first set up in 2006 by the Bank of Australia.
It has a total value of $3.2 billion, and it was used by banks to make loans to businesses in Australia and overseas.”MPI believes this account was initially created as a vehicle to make extra payments on loans that were made to the Bank by the Financial Services Union, which was one of the largest financial institutions in Australia,” MPI said in a statement.
“These payments were made in advance of any future payments being made on these loans.”MPI also says the account’s owners have made “clear representations” to the bank about the use of the account.
“Any breach of MPI’s terms and conditions of the licence would be considered criminal, and would result in the forfeiture of the MPIs licence,” the statement said.MPIs licence is held by an independent body, which is not accountable to the Crown.MPi is a body that regulates the financial services industry in Australia.MPIA director general Scott Harnell said the investigation was “very serious”.
“There’s a lot of work to be done by the MPIA in terms of how this happened, what happened with the account and how the bank came to take control of the funds,” he told the ABC.
“That’s something that’s ongoing.”MPIA is also looking into the use and transfer of funds by the bank, MPI, and its subsidiaries, such as MPI Financial Services, MPIB and MPIC.
Topics:police,law-crime-and-justice,crime,criminology,finance,financial-services,banker-of-meets-city-andtown,federal-government,australia,aurelia-state-issues,police-intelligence,aussie-state,franceContact Adam CrouchMore stories from Australia