SCAMMERS pretend to have ties to the central bank to trick people into parting with their money, it turns out.
The regulator has alerted the public to six fraudulent companies using the central bank’s logo and name to scam consumers.
The unauthorized companies are Assist Finance, Cofino Capital, CFDS Invest, FX Finance Kredit, Roalix Finance and CFDS Finance.
The central bank said these companies were using fraud to extort money from consumers.
Typically, these fraudulent companies operate as retail lending companies without proper authorization.
They claim to be partners with the central bank and use the central bank’s name and logo in correspondence to mislead consumers, the regulator said.
“This scam is an example of an ‘advance payment scam’, requiring payment in advance before a loan is granted. The credits are never granted,” the central bank said.
The regulator said it will never contact consumers to ask for money, personal information or a Personal Public Service Number (PPS).
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 financial decisions or providing personal information.
Consumers have been advised to stop and ask what the company is offering and who is contacting them. A red flag is when people are being pressured into revealing personal or financial information.
Consumers have been advised to make sure the business is legitimate by checking the central bank’s register to see if the business is licensed.
Even if the company appears to be legitimate, consumers should still make sure it’s genuine. You should check the firm’s website, emails or records for irregularities such as spelling and grammatical errors.
Consumers have been told to seek advice from someone they trust to help them make sound financial decisions.
The central bank said it has a special unit investigating alleged unauthorized activity or potential fraud by individuals or firms.
“We fully investigate all cases of alleged unauthorized activity or potential fraud and work closely with An Garda Síochána,” it said.
Earlier this week, the Central Bank of Ireland warned the public about convicted fraudster Catriona Carey’s “unauthorized” financial firm Careysfort Asset Estates.
It said the firm was not authorized by the central bank to provide financial services.
https://www.independent.ie/business/personal-finance/regulation/central-bank-says-fraudulent-firms-are-pretending-to-be-its-partners-to-extract-money-41740366.html The central bank says fraudulent firms pretend to be their partners to extract funds