Overcharging scandal - New type of bank robber

Two new whistle-blowers have informed the office of Financial Regulator Matthew Elderfield of fresh allegations of the systematic overcharging of customers by Allied Irish Banks and the Bank of Ireland, along with a number of state-backed financial institutions.

The whistle-blowers have reportedly given the regulator evidence of separate bank rip-off schemes that could have cost as much as €100m.

Over the past decade the banks have already had to repay some €180m to customers for overcharging. The whole thing has given a new meaning to the term “bank robbery”. This should be of even more concern to the public now, as it is currently funding the banks.