Tipp TD under investigation by Criminal Assets Bureau

It has emerged the Criminal Assets Bureau requested information from AIB as part of an investigation into businessman Denis O’Brien and former Minister Michael Lowry.

The Irish Times says leaked files in the ‘Paradise Papers’ show an offshore branch of the Bank in the Isle of Man was approached about transactions linking the two men – following a request from CAB.

The transactions were previously investigated by the Moriarty tribunal – but the files show an offshore branch of AIB was asked for information in March 2015 on foot of a request from authorities here.

Business journalist Gavin McLoughlin explains: