Oireachtas Joint and Select Committees

Thursday, 19 October 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Engagement with the Central Bank of Ireland

9:30 am

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

This is relevant to the testimony received from Jonathan Sugarman. He specifically said at this committee that he had reported the matter to gardaí at Rathmines. They, in turn, had noted it in the station book. Afterwards, the detective unit informed him a banking specialist would be in touch but that did not happen. When the committee asked the Garda Commissioner's office to comment on this and explain at what stage the inquiry was, we were told the Central Bank had suggested it was dealing with it and that it would be dealt with through administrative sanction procedures.

I presume from that letter that the bank was in some way sanctioned by financial penalty or whatever for this breach, which apparently was 20 times more than what was allowed. In response to the Garda Síochána's letter, what was the sanction?

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