The Central Bank has published a warning notice naming Allied Capital Services Inc (ACS) of Panama and Costa Rica, which is offering investment services in the Republic. ACS is operating as an unauthorised investment business firm in the State.
It is a criminal offence for an investment firm to operate in the Republic without authorisation from the Central Bank. Clients of unauthorised firms are not eligible for compensation from the Investor Compensation Scheme.
The Bank has issued warnings about 15 such firms this year. Anyone wishing to contact the Central Bank with information on such firms may telephone the Bank's lo-call enquiry line at 1890 200 469.
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