Compliance

03:27 PM
Connect Directly
RSS
E-Mail
50%
50%

Millions Walk From Irish Bank Amid Shoddy Security

One Bank of Ireland employee under duress procures about $9m for crime gang.

There is public outcry in Ireland today that an estimated 7 million Euro ($9m) was stolen overnight from the country's biggest bank because of poor procedures.

How could one employee gain access to such a sum, callers to a popular national radio show have asked, after a crime gang held hostage the family of twenty-something banker Shane Travers and forced him to withdraw cash for them from his employer Bank of Ireland. The raid was in a major Dublin city center branch, opposite Trinity College.

Top management has recently changed at Bank of Ireland, amongst others, as Ireland is rocked by its worst ever banking crisis.

The new Bank of Ireland Chief Executive Richie Boucher emailed staff this afternoon, reminding them of the bank's security procedures. "Our best defense is to follow tried and tested procedures," he said.

This followed a statement by the Irish Justice Minister Dermot Ahern, saying that proper procedures were not followed during the raid this morning.

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology - August 2014
Modern core systems are emerging as the foundations of effective channel integration and customer engagement initiatives.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
New IT Models for New Financial Services Challenges