Central Bank issues warning on unauthorised firm – MoneyLoansireLand

It has come to the attention of the Central Bank of Ireland attention that a fraudulent firm, MoneyLoansireLand, has been operating as a retail credit firm in the State in the absence of an appropriate authorisation. MoneyLoansireLand is advertising loans on its website but it holds no authorisation from the Central Bank as a retail credit firm. This scam is an example of an "advanced fee fraud", where MoneyLoansireLand seeks a payment upfront (for example for security deposit, tax) prior to providing a loan. The loans are never provided. The unauthorised firm is operating the website www.moneyloansireland.com and the contact information used by this unauthorised firm includes the email address i[email protected] and the telephone number 01 9682695.

A list of unauthorised firms published to date is available on the Central Bank website.

It is a criminal offence for an unauthorised firm/person to provide financial services in Ireland that would require an authorisation under the relevant legislation that the Central Bank is the responsible body for enforcing. Consumers should check the Central Bank registers online to find out if a firm/person they are dealing with is authorised. Consumers should be wary of advertisements offering loans from unauthorised firms or persons.

There are some general steps that individuals should take before dealing with firms/persons which purport to offer financial services:

• If you are buying a financial product such as a loan, insurance, investment or pension, or engaging a financial service such as investment advice, only deal with a Central Bank authorised firm/person – check our Register to see if the firm/person is registered. Always access the Register from our website, rather than through links in emails or on a firm’s/person’s website.
• Always double-check the URL and contact details of a firm/person in case it is a ‘clone firm/person’ pretending to be an authorised firm/person, such as your bank or a genuine investment firm.
• Check the list of unauthorised firms. If the firm/person is not on our list, do not assume it is legitimate – it may not have been reported to the Central Bank yet.

For further information, please visit the Avoiding Scams and Unauthorised Activity section of the Central Bank’s website.

Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised.

Notes to editors

The name of the above firm is published under the Central Bank (Supervision and Enforcement) Act 2013.