Bank advises on Net firms

The Central Bank has advised consumers that firms offering financial services over the Internet are subject to the same rules and obligations as all other regulated companies.

Companies engaged in providing and selling financial services in the Republic or those specifically targeting Irish clients must be authorised by the Central Bank, which is responsible for supervising most financial firms.

The Central Bank hopes the public will notify it concerning firms offering services over the Internet that may not be regulated by the Bank.

Any firm in doubt as to whether it requires authorisation to offer particular financial-related services via the Internet should contact the Central Bank prior to establishing a presence on the Net.

Queries regarding financial services and their regulation over the Internet may be directed to the Central Bank at lo-call number: 1890 200 469.