AIB refunds €8 million to ATM customers


Allied Irish Bank (AIB) has announced it will refund customers €8 million after mistakenly billing them for transactions that never took place. The bank will refund €5.1 million relating to 41,000 AIB customer transactions and €3.2 million relating to 30,000 non AIB Bank customers.

AIB has also had to rethink its ATM anti-fraud strategy. "Changes have been effected so it can't happen again," says one source. "The control measure now is proactive in ensuring the banks' customers can be refunded

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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