ANTICORRUPTION DEVELOPMENTS
Former Securency Manager Convicted of Corruption
On May 11, 2016, Peter Michael Chapman, former manager of
polymer banknote manufacturer Securency PTY Ltd.
("Securency"), was convicted on four of six counts
relating to corrupt payments he made to a foreign official in
violation of the U.K.'s Prevention of Corruption Act 1906.
Mr. Chapman previously managed Securency's African office,
Innovia Securency PTY Ltd. ("Innovia"). In an attempt to
guarantee orders of polymer substrate (used to make plastic
banknotes) for Innovia, Mr. Chapman paid about $205,000 in bribes
to an agent of Nigerian Security Printing and Minting PLC. Mr.
Chapman's actions came to light in May 2009 when Securency and
the Reserve Bank of Australia (then a partial owner of Securency)
informed the Australian Federal Police (AFP) of corruption
allegations. The AFP in turn disclosed the allegations to the U.K.
Serious Fraud Office (SFO). Following a joint AFP and
