AIB silent on addresses claim

 

AIB has refused to comment on whether it provided fictional overseas addresses for its customers to facilitate them in operating tax-free non-resident accounts.

A spokeswoman confirmed that a Co Kerry-based individual, who was provided with a fictional New York address for a non-resident account, was one of the bank's customers. Citing client confidentiality, she said she could not make any comment on the account.

"AIB is continuing to co-operate fully with the Public Accounts Committee and the Revenue on this matter and it is not, therefore, appropriate to make any further public comment at this stage."

A report in yesterday's Sunday Business Post claimed that the customer, who lodged more than £40,000 in the bank's Denny Street branch in Tralee in 1988, alleged that he was invited to place his money in a non-resident account which would not be liable for tax. The account was held in his name at the fictional address of 406 Park Avenue, New York. The spokeswoman said it was public knowledge that the bank's US headquarters were at 405 Park Avenue, New York, but refused to comment on how the customer's account came to be held at a fictional address on the same street.

Last week, the Taoiseach told the Dail that legislation setting out the powers of the Dail Committee on Public Accounts to investigate the role of statutory agencies and financial institutions in relation to non-resident accounts will be completed shortly.