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Secret report shows NAB forged signatures, accepted cash bribes

Secret report shows NAB forged signatures, accepted cash bribes

The National Australia Bank continues to give evidence at the banking royal commission during the second day of hearings. On the stand has been NAB’s Executive General Manager of Broker Partnerships, Anthony Waldron.

A KPMG report revealed during the commision shows the bank was aware bankers were forging customer signatures, falsifying loan documents and accepting cash brides for loans.

Ross Greenwood speaks with Macquarie Radio Political Editor Michael Pachi.

“This KMPG report was commisioned by the National Australia Bank basically because they started getting a bit of a feeling that what was happening in their lending position was going a bit awry.”

“Solicitors, real estate agents, we heard there was a gym owner, even a tailor – these were people who were receiving fairly hefty commissions if they signed new clients.

“What we’ve heard today is that a lot of these applications were falsified.”

“There was probably about $50-million worth of loans that had been approved that had serviceability problems.”

Listen to the full update below

This article was first published by
Author: Money News -  Ross Greenwood
Last modified onSunday, 08 April 2018 22:49

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