€400k stolen from credit union in Cork

More than €400,000 was stolen from member accounts in a Cork credit union in a series of “unauthorised transactions”.

Management at Synergy Credit Union, based in Fermoy, Co Cork, confirmed it had discovered the “irregularities” during an internal review in September of last year. It said all accounts had now been “replenished”.

The gardaí and the Central Bank were subsequently informed. Accountancy firm Grant Thornton was commissioned to carry out an independent investigation into the irregularities.