A MELBOURNE bank officer and a Canberra public servant have been arrested over an alleged $7 million insider trading operation.
Australian Federal Police allege the National Australia Bank employee obtained market sensitive information from the Australian Bureau of Statistics employee.
The banker used the information to predict fluctuations in the Australian dollar, the AFP says.
The activity - which generated about $7 million in profits - occurred between August last year and this month, AFP acting assistant commissioner Ian McCartney said.
The AFP executed eight search warrants and seized assets in Melbourne and Canberra on Friday.
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