Oireachtas Joint and Select Committees

Wednesday, 5 October 2022

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

Politically Exposed Persons: Discussion

Ms Brenda McVeigh:

I get what the Chairman is saying. There have been noises. We have heard about that, but we have no evidence of that. I spoke with the Central Bank before I came today, and they are telling me that only one institution so far, which they have not named as we should not know that, has so far had pushback with one customer regarding the enhanced due diligence measures that bank has requested and put in place for that particular customer who, I understand, was a so-called PEP. That is as much as we are hearing. We are hearing of aggravation and irritation that this new regime is in place, but there has not been any significant pushback according to the Central Bank in relation to financial institutions.

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