The high volume of breaches in Bank of Ireland's case pointed to significant weaknesses, according to the Central Bank

Bank of Ireland has been fined €3.15m by the Central Bank for breaching rules which prevent money laundering and financing of terrorists. 

Bank of Ireland admitted the failures and said the fine related to breaches of controls, as opposed to actual money laundering or financing of terrorists. 

It is the fifth significant fine imposed on a financial institution by the Central Bank under new powers. 
The Central Bank said Bank of Ireland failed to quickly submit six suspicious transactions to Gardaí and the Revenue Commissioners. It also failed to assess the risks adequately.

Read more at:
https://www.rte.ie/news/business/2017/0529/878793-bank-of-ireland-fine/