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Bank of Ireland Fined €1.6 Mil...

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Bank of Ireland Fined €1.6 Million After Failing To Report Cyber-Fraud Incident To Gardaí

Rebecca Noonan
Rebecca Noonan

12:48 28 Jul 2020


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€106,000 was paid into an account after the bank took instructions from a fraudster impersonating a client in September 2014

Bank of Ireland only informed Gardaí of the incident a year later after being told to do so by the Central Bank.

A Central Bank investigation noted serious deficiencies in how Bank of Ireland handled third party payments and BOI's lack of transparency about the incident misled their inquiry.


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