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Ireland : THE CENTRAL BANK OF IRELAND releases warning on unauthorized credit firm

August 2, 2014

The Central Bank of Ireland has released a warning noting an unauthorized retail credit firm offering credit facilities to Irish consumers.

The Irish central bank stated, Day-Long Loans and Financial Investment (Ireland) is not authorized as a retail credit firm by the central bank and had advertised the availability of credit in an Irish newspaper.

A list of unauthorized firms/persons published to date is available on the central bank's website, It said.

The central bank said, It is a criminal offense for an unauthorized firm/person to provide financial services in Ireland that would require an authorization under the relevant legislation for which the central bank is the responsible body for enforcing. Consumers should be wary of advertisements offering loans from unauthorized/anonymous firms or persons, it added, Consumers can check the central bank register online to find out if a firm they are dealing with is authorized.

The names of 242 unauthorized firms/persons have been published by the central bank since August 1998.

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Source: TendersInfo (India)

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