Mr Ray Burke has justified opening three offshore bank accounts by saying he did it for "confidentiality".
When opening an account in Jersey he gave his middle initials "P.D.", referring to Patrick Damien, which he seldom used, and also gave his sister-in-law's address in the UK.
The tribunal had asked one bank for documents from Mr Burke's accounts, but was told if it did not have the correct name of the account-holder the bank could not give out information, Mr Patrick Hanratty SC, for the tribunal, said.
Mr Ray Burke said he received large amounts of money in political contributions because the business community wanted Fianna Fail to be elected to government. Fianna Fail between 1987 and 1989 had "turned the country around", he said.
He did not tell Fianna Fail headquarters about some of the contributions because they "would have tried to get their hands on it," he added.
From one donation he received for £30,000 he gave Fianna Fail headquarters £10,000. "I wasn't asked for the balance of it," he said.
He denied that the political contributions he received were used for his personal spending, but said it all went into "the same kitty" in an Ulster Bank current account and was used for political expenses.
Political contributions went towards campaigning and constituency work, Mr Burke said.
"This isn't just me, this is all politicians," he said.
There was still £118,000 in a bank account left from political contributions which would not be used, Mr Burke said.
A significant proportion of the people on a list who made political donations to him and which he handed to the Flood tribunal came to a single fundraising event, Mr Hanratty said.