Dáil Éireann Debate, Thursday - 16 January 2014
5. Deputy Thomas Pringle asked the Minister for Finance his views on the lists of politically exposed persons under Anglo Irish Bank-Irish Bank Resolution Corporation; the reason lists were deemed necessary; the way they have been used; if he was aware of the lists and the contents of these lists; and if he will make a statement on the matter. [1757/14]
View answerThis question arises from reports in recent weeks that the Irish Bank Resolution Corporation, IBRC, or Anglo Irish Bank, as it was previously known, compiled a list of politically exposed persons and high profile persons who were borrowers from the bank. The question seeks to find out why the bank considered these lists necessary, what knowledge the Department of Finance and the Minister had of them and what use was made of these lists.
Following a site inspection the Department’s Forest Service inspector reported that remedial works are required on this site. A remedial works letter issued to the applicant on 13 January 2014 detailing the work required. The applicant should notify the Department on completion of works to allow an inspection to be carried out. The matter will be re-considered as soon as the site is up to the required Departmental standard.
The Minister says these lists were compiled in response to the 2010 Act. When were the lists compiled in response to it? How do we know, and what assurances can we have, that these politically exposed persons or high profile persons did not receive any preferential treatment when dealing with their accounts in this institution? It is vital that people be reassured that these lists were not compiled in order to identify people who could receive preferential treatment.
The lists were compiled before the liquidation took place, but I do not have the exact date. It was compiled by Anglo Irish Bank and IBRC prior to the liquidation taking place. It is part of the process of the liquidation to ensure that nothing untoward happened and if the liquidator comes across anything that could be deemed a criminal offence, he has an obligation to report that to the Garda Síochána. So far, the special liquidator assures me that he has not encountered anything which would amount to malpractice or the like. His study of those issues is ongoing, but I am not the person to whom he would report. However, in conversation with him about the process of the liquidation these things arise.
The main point is that this was not an initiative taken by IBRC to list its well known customers for any other purpose than complying with the Criminal Justice Act 2010. It is to do the opposite of what the Deputy suggests, to avoid preferential treatment being given to people because of their place in society, because they were important in a State agency or because they had political power.
The issue with politically exposed persons is that the political exposure could be used in different ways. Some high profile people who appear to be on the list have received debt write-downs from the IBRC, while other people have been taken through the full remit of the courts and the law and have been bankrupted in the course of that. We must be assured that these lists were only complying with the Criminal Justice Act 2010 and that no preferential treatment was given to anybody on them. It is incumbent on the Minister to ensure that is the case. Perhaps the Minister would also inform me of the date these lists were compiled.
I believe I dealt with the issue. Many members of the public would find it surprising that this provision is in the Criminal Justice Act 2010 but, on reflection, it is quite a good provision. I hope it is being honoured across the banking system. I will get that date for the Deputy and communicate in writing to him.
