Central Bank issues warning about four unauthorised firms

The Central Bank has published warning notices about four firms that do not hold authorisation from the regulator.

The firms are: Label Finance Service, Popu Krediet, ProvidentLoans Ireland and FTI Limited.

The first two firms named have been advertising loans on their respective websites even though they do not have authorisatio from the Central Bank.

FTI Limited has cloned details from another company that is regulated by the Central Bank.

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ProvidentLoans Ireland has both cloned details from another regulated company and been advertising loans despite not being authorised.

It is a criminal offence for an unauthorised firm or person to provide financial services in Ireland that would require an authorisation under the relevant legislation for which the Central Bank is the responsible body for enforcing.

The regulator said consumers should be aware that if they deal with a firm or person that is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.

Any person wishing to contact the Central Bank with information regarding such firms or persons can telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised.