National Irish Bank has admitted that the scandals uncovered by RTÉ three years ago have cost the bank £17.5 million and 27 years of man hours to date. The scandals involved the bank taking monies from customer accounts for no legitimate reason, systematically overcharging on interest and fees, and operating an offshore investment that enabled some of its customers to evade tax. The bank has since brought in a range of new procedures to ensure these practices could never be repeated and an entirely new management team has been put in place.
