Police in Sydney have arrested a woman as part of an ongoing investigation into a multi-million dollar fraud against the National Australia Bank (NAB).

In February 2018, detectives from NSW Police’s Financial Crimes Squad established Strike Force Napthali to investigate allegations of corrupt commissions being paid for contracts with the bank.

Police claim those commissions were valued at about $40 million over a five-year period.

The woman arrested is Helen Rosamond, a director of events management company Human Group – a former supplier to NAB.

Ms Rosamond will be charged with 56 counts of bribing an agent and two counts of gaining benefit by deception amounting to $6 million, police have confirmed.

She was arrested at a home at Potts Point this morning and has been taken to Kings Cross Police Station for questioning.

NAB says whistleblower reported alleged fraud

A spokesman for NAB said no one at the bank was under investigation, including former CEO Andrew Thorburn, who resigned in the wake of the banking royal commission.

“The alleged fraud was reported by a whistle blower. NAB responded immediately, investigated and reported it to police,” the statement said.

“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.

“We continue to cooperate fully with police and we thank them for their important and work in investigating this matter.

“NAB is the victim in this matter. Police have confirmed that no one at NAB is under investigation, including former CEO Andrew Thorburn, and there is no suggestion of any wrongdoing by anyone at NAB.

“While this remains before the court it is not appropriate for us to comment further.”

A large number of documents were seized along with electronic storage devices at three Sydney businesses by detectives in April last year in relation to the investigation.

-ABC