Regulator: Central Bank was not involved in AIB ‘cover-up’

THE Central Bank reported AIB and Goodbody Stockbrokers for suspected money laundering in 2001 and was not involved in any cover-up, the Financial Regulator has said.

Chairman of the Financial Services Regulatory Authority, Jim Farrell, said before his office was established the Central Bank had policed the banking sector.

He said AIB and Goodbody put in place a range of measures to trade in their own shares. But they told the Central Bank and the Irish Stock Exchange more acceptable deals were taking place.