McCreevy says AIB should examine structures

AIB bank must examine its structures and arrangements following the revelation it has been overcharging some foreign exchange…

AIB bank must examine its structures and arrangements following the revelation it has been overcharging some foreign exchange customers for eight years, the Minister for Finance said today.

Mr McCreevy said it seemed "unusual that something goes on for eight years and wasn't detected until quite recently" by senior management.

He told RTÉ radio that "perhaps AIB have some more work to do on their own structures and reporting arrangements".

Yesterday the Tánaiste, Ms Harney said there was an onus on AIB to identify customers who were overcharged.

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AIB Chief Executive Mr Michael Buckley said it was an "administrative cock-up which should have been put right earlier and is being put right now". Managing Director

Mr Donal Forde said executives had not been briefed on the software problem that caused the overcharging.