Central Bank issues warning about eight unauthorised firms

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

The firms are Mutual Lending Mate; Friends & Pro Limited (trading as Friends Loans); Easy Money for Cash; Panther Loans (Clone); Cash2All (Clone); Davlog Group Private Lender/Davlog Group; Smart Loans (Clone); and Nat International Funds PLC (Clone).

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.

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“If you are buying a financial product such as a loan, insurance, investment or pension, or engaging a financial service such as investment advice, only deal with a Central Bank authorised firm or person,” it said in a statement.

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.