Chairman of Transparency International (PNG) Peter Aitsi has reported that internal accounting procedures have uncovered what appears to be a case of fraud committed by an employee possibly with the assistance of others.
The matter has been referred to the police. Mr. Aitsi said: "It is with great disappointment that we have learnt of apparent attempts to defraud both TI (PNG) and the banks with which we deal.
In cases like this we accept the obligation to do all in our power to ensure that funds entrusted to us are protected and that individuals who fail to honour the trust placed in them should be reported to the legal systems established to guide us all".
Investigations are proceeding with police assistance and further details will be provided when investigations are completed.
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