This morning's update from De La Rue has induced a further wave of agog and aghastness. While the security print giant has at last been able to shed some more light on the production issues at its Overton paper mill, it seems that every time De La Rue issues a statement these days it throws up as many questions as it answers.

We now know that some staff at Overton have, according to the plc, 'deliberately falsified certain paper specification test certificates for a limited number of customers'. Why? What on earth would induce employees charged with safeguarding quality to act in such a way?

Could it be that things got too cushy down at t'mill? I imagine that bagging a suitable position there could well be considered a job for life, as printed money isn't disappearing anytime soon. What's more, De La Rue still has one of those gold-plated final salary pension schemes, although it plans to close it in 2013 due to the usual deficit issues - at the last count the theoretical shortfall being an eye-watering £204m. That said, anyone with an, ahem, secure job in a beautiful part of the country, with a few years' service and a proper pension to look forward to would surely be beyond bonkers to jeopardise such a position.

If, however, it does turn out that there are deep-seated issues with the operational culture, then it goes some way to explaining why James Hussey had to go, as he was running the currency business prior to becoming CEO.

The Serious Fraud Office has also been informed due to the deliberate falsification aspect of the production issues, and the hit for all of this will be 'at least' £35m, another eye-popping number that's almost a third of De La Rue's total operating profit for last year.

I can't begin to imagine an adequate figure for the damage done to De La Rue's reputation.