NAB Chief Legal Counsel Sharon Cook said: 'NAB has assisted NSW Police with its enquiries throughout the investigation and we are pleased this part of the matter is now resolved.

'The issue was first reported by a whistleblower and I thank them for coming forward and alerting us to this illegal activity, enabling NAB to investigate thoroughly and refer it to the police.

'NAB has zero tolerance for any criminal activity. Where criminal conduct is identified, we will refer it to the police.

'Since becoming aware of the issue, we have made changes to strengthen controls in our organisation, including changing delegations and introducing additional checks on expenses.

'As there is a second party involved who is still before the Court, NAB is unable to comment further on this matter. We are taking court action to recover the proceeds of the alleged fraud.'

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NAB - National Australia Bank Ltd. published this content on 27 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2021 02:09:02 UTC