Bank of Ireland hit with €3.15m fine
The settlement – the second highest on record in this category – follows AIB last month being hit with a near €2.3m fine for its anti-money laundering failures; something which chairman Richard Pym called “a stain” on the bank’s reputation.
Since 2006 the Central Bank has doled out fines totalling nearly €11m to nine institutions failing money laundering regulations as set out in the Criminal Justice Act. The largest, to date, remains Ulster Bank’s €3.32m fine last October.
