A private fundraising project run by Queensland's fraud squad, which the head of the state's corruption watchdog says promoted the risk of corruption, raised $800,000 in just three years, the ABC can reveal.

Key points: Queensland Police say Project Synergy raised money for fraud awareness and cyber-safety programs

Queensland Police say Project Synergy raised money for fraud awareness and cyber-safety programs Corruption watchdog found the fund was not transparent and created a significant fraud risk

Corruption watchdog found the fund was not transparent and created a significant fraud risk It raised $800,000 between 2014-16, but would have earned much more because it started in 2008

Project Synergy held conferences and symposiums at luxury resorts and sold sponsorships to private companies for up to $25,000.

Packages to last year's symposium at the Gold Coast's luxury Sanctuary Cove Resort included expensive tickets to a gala dinner, where attendees were encouraged to "dress in your best disco wear or glamorous gala gear and boogie the night away!".

But Project Synergy was later investigated by the Crime and Corruption Commission (CCC) over "allegations related to the misuse of funds and QPS [Queensland Police Service] resources, misuse of corporate credit cards and inappropriate travel practices".

The CCC found the fund was not transparent, had incomplete and inaccurate records, and "created a significant fraud risk to the QPS".

It also found corporate sponsorships were not entered into the QPS accounting system or an internal sponsorship register.

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The CCC also recommended a senior officer face disciplinary action for "failing to comply with financial management practices and policies" in administering Project Synergy.

In 2014 the project generated $376,000, in 2015 it was $250,000, and last year it raised $177,000.

While the ABC has learned it raised $800,000 over those three years, the project would have earned much more over its lifetime because it started in 2008.

However, police said they were not able to provide figures for the earlier years.

Fraud squad operated 'in environment that promoted risk of corruption'

In an interview with the ABC, CCC chairman Alan MacSporran said a 22-month investigation failed to uncover just how much the fraud squad had raised through Project Synergy.

"It's unfortunate we couldn't actually pin them with the amount of money involved, but I think the message got across," Mr MacSporran said.

He said the private fundraising project made him "very uncomfortable".

Alan MacSporran said Project Synergy was "a very bad look". ( AAP: Dan Peled )

"You had the fraud and cybercrime group operating in an environment that promoted the risk of corruption itself. Now, that's just unacceptable," he said.

"To do it outside the sponsorship guidelines, the protocols, the accountability regimes, the transparency measures, was a very, very bad look and a very, very bad outcome."

Earlier this year the ABC lodged a right to information application for documents outlining how much money had been raised by Project Synergy.

It was refused by Queensland Police.

The ABC then approached the office of Police Minister Mark Ryan and asked if he had been briefed about Project Synergy.

"Like the rest of Queensland, the Palaszczuk Government expects our Queensland Police Service to operate with integrity and transparency at all times," the Minister's office said, adding the fundraising project had been disbanded.

After the ABC contacted the Minister's office, police agreed to release a breakdown of how much Project Synergy had raised.

Fiscal the Fraud Fighting Ferret program disbanded

Fiscal the Fraud Fighting Ferret was used to educate kids about cybercrime. ( Queensland Police )

The QPS has told the ABC that money raised was used for training, cyber-safety programs and fraud awareness.

One of those programs was aimed at educating children about cybercrime, and was based on an animated character called Fiscal the Fraud Fighting Ferret.

But the CCC found the fraud squad spent more than $47,000 on Fiscal merchandise, "including some questionable items such as wine coolers for a children's program".

In a statement outlining the $800,000 raised by Project Synergy, police said "in the interests of community confidence, which is critical to the QPS, Project Synergy and the Fiscal the Fraud Fighting Ferret program have been disbanded.

"The Queensland Police Service accepts the findings of the Crime and Corruption Commission investigation into Project Synergy," the statement read.

"All but one recommendation for the QPS has since been implemented and audited by the Ethical Standards Command."