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Oz Police Seek US Evidence In $2mil. CBA Bribery Case

Oz Police Seek US Evidence In $2mil. CBA Bribery Case

Police prosecutor Carla Black yesterday told a hearing at Sydney’s Downing Centre that police were awaiting significant evidence from the US before serving a full brief on the two accused: former senior CBA IT executives Jon Waldron, a 44-year-old New Zealand national; and Keith Hunter, 61, a US citizen and the bank’s former executive GM for IT delivery systems.

The men are alleged by police to have reaped more than $2 million in bribes in exchange for awarding multi-million dollar technology work from CBA to ServiceMesh, a subsidiary of major US IT company Computer Sciences Corporation (CSC). Chief magistrate Graeme Henson set the matter down for August 11.

Police claim the men received the allegedly illegal payments via a not-for-profit organisation called the ACE Foundation, set up by ServiceMesh founder Eric Pulier.

They allege ServiceMesh won lucrative contracts with CBA without the contract going out for tender and that the relationship between the organisations led to a successful takeover of ServiceMesh by CSC in October 2013.

Meanwhile ACE Foundation has filed a lawsuit against the Commonwealth Bank in Australia for not returning $2.53 million in funding that ACE had paid the two former IT employees – who it claimed had been unknowingly involved in corrupt activities.

ACE received a multi-million dollar injection by ServiceMesh’s founder Pulier.

– In a lawsuit in California, ACE claims Waldron and Hunter were paid as consultants for helping build reusable technology systems for a drinking water project for impoverished communities. It wants the $2.53 million returned.

Oz security software up 8.2pc

SYDNEY/BOSTON – Revenue from security software in Australia and New Zealand reached US$507.6 million in 2014, up 8.2 percent from 2013, according to Gartner’s latest market share figures.

The global market pulled in revenue of US$21.4 billion in 2014, up 5.3 percent on 2013 revenue of $20.3 billion.

“Overall market growth was up slightly in 2014 to 5.3 percent from 4.9 percent in 2013,” said Sid Deshpande, principal research analyst at Gartner. “Even though the secure Web gateway (SWG) segment experienced single-digit growth in 2014, cloud-based and hybrid SWG deployments are becoming increasingly popular.”

Symantec took the lead as number one security software vendor by revenue, although the company suffered its second consecutive year of revenue decline, down 1.3 percent to $3.7 billion.

Security software revenue for second-placed Intel/McAfee grew 4.6 percent in 2014 to reach $1.8 billion. At third, IBM’s security software revenue grew 17 percent in 2014 to reach $1.5 billion.