Regulator issues warning against five financial firms

The Central Bank has issued warnings notices against five financial firms, which it says have no authorisation from the regulator.

The firms, which are reputedly offering consumers fast credit, are Quick Loans; Onehourloan; Fouchard Credit and Cheetah Money (Clone).

The Cental Bank also issued a warning against an unauthorised retail credit/moneylending firm, Republic Loans.

"It is a criminal offence for an unauthorised firm 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," it said.

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“Consumers should be aware, that if they deal with a firm that is not authorised, they are not eligible for compensation from the Investor Compensation Scheme,” the regulator said.

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.