The Central Bank investigation into National Irish Bank is being treated as a matter of urgency, a spokesman said yesterday.
The Bank has been investigating the issue since it became aware of RTE's enquiries last Thursday and has sent a team of officials into the bank. They last visited the bank's offices on Saturday.
If it turns up any material evidence it will turn the information over to the Fraud Squad of the Garda.
Under the Criminal Justice Act 1995, the Bank is obliged to notify the Garda of any evidence it has of tax evasion, or of any other offence in the management of the funds.
The spokesman added that it will be looking at the entire scheme to see if it can uncover any evidence of wrongdoing not already in the public domain.
The Bank has no specific responsibilities to report tax evasion prior to May 2nd, 1995, although the spokesman insisted it would take a very serious view of any such activity.
This responsibility lies with the Revenue Commissioners.
However, the Bank does have the responsibility for some of these matters prior to December 31st, 1992, when exchange control regulations were phased out.
The Bank is obliged to report to the Minister for Finance any evidence that a bank or bank official knew that the holder of a nonresident account was actually a resident.
