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Central Bank of Ireland Issues Warning on Unauthorised Firm – Indus Loans (Clone)

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Central Bank of Ireland issues warning about unauthorized company loans – Indus (Transcript)

January 12 2022press release

The Central Bank of Ireland (“Central Bank”) today, January 12, 2022, has published the name of an unauthorized company, Indus Loans (clone) (UK) – www.indusloans.co.uk (currently inactive) to warn the public that it is not authorized by the Central Bank To provide financial services.

Indus Loans (Transcript) It advertises loans on its website but does not hold any license from Central Bank as Retail Credit Company, Lender or otherwise.

unauthorized Indus Loans (Transcript) Reproduce details of a legitimate company licensed by the Financial Conduct Authority (FCA) in the UK. It should be noted that there is absolutely no connection between the unauthorized entity Indus Loans (Clone) and the FCA licensed company, the details of which have been reproduced.

It is a criminal offence for a company/person who is not authorized to provide financial services in Ireland that require authorization under the relevant legislation, of which the Central Bank is the body responsible for its enforcement. Customers should check central bank records online to see if the company/person they are dealing with is authorized. Consumers should beware of advertisements offering loans from unauthorized companies or persons.

There are some general steps that individuals should take before doing business with companies/people claiming to provide financial services:

  • If you buy a financial product such as a loan, insurance, investment or pension, or engage in a financial service such as investment advice, deal only with a company/person authorized by a central bank – check our record to see if the company/person is registered. Always access history from our website, not through links in emails or on a company/person website.

  • Always check the URL and contact details of the company/person in case it is a “clone company/person” pretending to be an authorized company/person, such as your bank or a real investment firm.

  • Check the list of unauthorized companies. If the company/person isn’t on our list, don’t assume it’s legitimate – the central bank may not have been informed of it yet.

Anyone wishing to contact the Central Bank for information regarding these companies/persons can telephone (01) 224 4000. This line is also available to the public to check whether the company is licensed or not.

Notes to editors

The above company name has been published under the Central Bank (Supervision and Enforcement) Law 2013.

disclaimer

Irish Central Bank Share this content on January 12 2022 He is solely responsible for the information contained therein. Distributed a year ago, without editing and without modification, on date Jan 12 2022, 11:05:02 UTC.

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