Ireland the Island, of Dodgy Dealers, and Scammers, Be Alert?

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Central Bank says fraudulent firms are pretending to be its partners to extract money

– 9h ago

FRAUDSTERS are pretending to have links to the Central Bank in a bid to dupe people into parting with their money, it has emerged.

The regulator has alerted the public to six fraudulent entities that are using the Central Bank’s logo and name in efforts to defraud consumers.

The unauthorised entities are Assist Finance, Cofino Capital, CFDS Invest, FX Finance Kredit, Roalix Finance, and CFDS Financ

The Central Bank said these firms were impersonating it in an attempt to extract money from consumers.

Typically, these fraudulent entities operate as retail credit firms in the absence of an appropriate authorisation.

They are claiming to be partners of the Central Bank, illicitly using the name and logo of the Central Bank in correspondence, in order to deceive consumers, the regulator said.

“This scam is an example of an ‘advanced fee fraud’, where a payment is sought upfront prior to providing a loan. The loans are never provided,” the Central Bank said.

The regulator said it will never contact consumers asking for money, personal data or a personal public service (PPS) number.

It added that if you are offered something that seems too good to be true, it is most likely a scam.

It advised the public to think twice before making any financial decisions or providing any personal information.

Consumers were advised to stop and ask themselves what the firm is offering, and who is contacting them. A warning sign is if people are being rushed to provide personal or financial information.

Consumers were advised to make sure the firm is legitimate by checking the Central Bank register to see if the firm is authorised.

Even if the firm appears to be authorised, consumers should still make sure it is genuine. They should check for any irregularities such as misspellings and grammatical errors in the firm’s website, emails or paperwork.

Consumers have been told to seek advice from someone they trust to help you make good financial decisions.

The Central Bank said it has a dedicated unit which investigates alleged unauthorised activity or potential scams carried out by individuals or firms.

“We investigate all instances of alleged unauthorised activity or potential scams in full and we liaise closely with An Garda Síochána,” it said.

Earlier this week the Central Bank of Ireland issued a warning to the public in relation to convicted fraudster Catriona Carey’s “unauthorised” financial firm Careysfort Asset Estates.

It said that the firm is not authorised by the Central Bank to provide financial services.

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