Woe on all AIB customers at this stage. After numerous scandals, including the blatant overcharging of foreign exchange transactions, confidence in the bank has never been lower. With that in mind, it’s probably not the best time for fresh scandal to roll off the mill.

Last night it emerged that 10 top current and former executives may have been involved in tax evasion. Offshore accounts, “inappropriate dealings” and a patridge in a pear tree.

That’ll be another €1million+ that’ll have to be paid out to customers who lost out as a direct result of the dodgy dealings. Predictably enough, AIB refuse to name the executives involved in this, the latest round of scandals. This brings to five the total of scandals unearthed in recent weeks.

But alas AIB aren’t the only bad apples in the banking world. Yesterday, Bank of Ireland held up their hands and admitted they have to refund €390,000 to second-level students who were incorrectly charged government stamp duty.

It begs the question; with all the corruption, shady dealings and rip-off merchants in operation in Irish banks, is there really any wonder (aside from tax reasons) that everyday sane individuals would choose to keep their money safe in offshore accounts? I’d rather it.
(Source: Irish Examiner – reg required)