Queensland Labor government awarded $15m contract to cybersecurity firm with financial red flags, review finds

Queensland's former state government awarded an ultimately doomed $15 million contract to a politically connected cybersecurity company despite a host of red flags, a taxpayer-funded autopsy of the decision reveals.

The red flags included the winning company, Cryptoloc Holdings, submitting financial records supposedly from an accountant that auditors could not find records of.

And the contract was awarded even after a credit-check agency warned bureaucrats of two adverse events linked to the company's founder, technology evangelist Jamie Wilson.