Friday, October 25 11:38:27
The Central Bank of Ireland today published the name of an unauthorised firm, Allconi Bank Administration Limited.
It said that this company is not authorised by the Central Bank to carry out banking business or to provide any other financial services.
The financial sector watchdog warned that it is a criminal offence for an unauthorised firm to provide financial services in Ireland that would require an authorisation under the relevant legislation which the Central Bank is the responsible body for enforcing. Consumers should be aware that, if they deal with a firm which is not authorised, they are not eligible for compensation from any statutory Compensation Schemes, it said.
Since obtaining the necessary legal powers in August 1998, the names of 211 unauthorised firms have been published by the Central Bank.