The Central Bank has issued warning alerts against five financial companies; according to them, they have not been certified by the regulator.
The companies are known to provide consumers with quick credit, and they are Onehourloan, Quick Loans, Cheetah Money (Clone), and Fouchard Credit.
Additionally, the Central Bank also cautioned against Rebuplic Loans, an illegal retail credit/moneylending company.
‘It is a crime for an uncertified company to supply financial services in Ireland, which need the relevant legislations’ authorization, where the role of implementing it lies with the Central Bank,’ it stated.
‘Consumers need to know that if they deal with an unauthorised company, they do not qualify to be compensated by the Investor Compensation Scheme,’ stated the regulator.
Anyone who wants to get in touch with the Central Bank with data about companies like these or people can contact (01) 224 4000. The public can also access this line to check whether a company is authorized.