Bank of Ireland fined €1.6m by Central Bank over fraud not reported to Gardaí for year           

Bank of Ireland has been fined €1.66m for a cyber fraud case at the bank's private clients unit  

A sign sits on the exterior of a Bank of Ireland 

The Central Bank has slapped a €1.66m fine on Bank of Ireland for a cyber-fraud case at the bank's private clients unit that involved the bank's failure to notify Gardaí and the regulator. 

In its reprimand, the regulator said the 2014 incident involved the Bank of Ireland Private Banking (BoIPB) paying over €106,430 from the client's account and the bank's own funds on the instructions of a fraudster.