Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Bates Finance Limited (CLONE) Website https://www.batesfinance.co.uk/ Email addresses used info@batesfinance.co.uk Phone number used 0124 594 4391 Authorisation in Ireland Bates Finance Limited (CLONE) is not authorised to provide investment services in Ireland. This unauthorised firm has cloned the details of authorised firm to pass itself off as legitimate to deceive consumers. There is no connection bet...
The Central Bank of Ireland has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **“Bates Finance Limited (CLONE)”**, an unauthorised investment firm that is cloning a legitimate authorised firm’s details to deceive consumers. This reinforces the requirement for compliance teams to maintain robust controls around firm impersonation, customer communications, and verification of authorisation status, especially for cross‑border investment services offered into Ireland.
What Changed
- - The Central Bank of Ireland has formally identified “Bates Finance Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details (name, website, email,...
- The warning explicitly states that Bates Finance Limited (CLONE) is not authorised to provide investment services in Ireland and is cloning an authorised firm’s details to pass itself off as...
- The Central Bank confirms that there is no connection between the legitimate authorised firm and the cloned entity using its name.
- The firm’s name is published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, reaffirming the Central Bank’s enforcement power to publicly name unauthorised providers.
- The warning reiterates channels for reporting suspected unauthorised firms to the Central Bank (telephone and online reporting), reinforcing expectations that firms and individuals will escalate...
Suggested Considerations
- Monitor the Central Bank of Ireland’s unauthorised firms and warning notices on an ongoing basis and promptly update internal watchlists, sanctions‑style lists, and fraud‑monitoring tools to include Bates Finance Limited (CLONE).
- Update customer‑facing communications, scam warnings, and investor education materials to reference clone firms and instruct clients to verify authorisation using the Central Bank’s Registers before engaging with any investment firm.
- Review and strengthen controls for detecting and responding to clone firm activity, including monitoring for misuse of the firm’s name, logo, Companies Registration Office number, or website domain in Ireland and other jurisdictions.
- Implement procedures to immediately escalate to the Central Bank and law enforcement (e.g. An Garda Síochána) if the firm becomes aware that its identity is being cloned or if clients are approached by Bates Finance Limited (CLONE) or similar unauthorised entities.
- Enhance due‑diligence and onboarding checks to validate counterparties and intermediaries offering investment products into Ireland, ensuring they hold appropriate authorisation from the Central Bank or relevant EU/EEA regulators.
Key Dates
- Central Bank of Ireland publishes the warning notice identifying Bates Finance Limited (CLONE) as an unauthorised investment firm and stating its lack of authorisation and cloning behaviour
Compliance Impact
Non‑compliance primarily manifests as heightened financial crime and consumer protection risk, including exposure of customers to fraud, reputational damage, and potential regulatory scrutiny where firms fail to act on public warnings about clones and unauthorised providers. While the criminal offence attaches to operating without authorisation, authorised firms that ignore such warnings may face supervisory criticism and conduct‑risk consequences if their customers suffer losses.
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Asset ManagerWealth ManagerBank Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Russell Administration Limited (CLONE) Website https://russelladministration.co.uk/ Email addresses used info@russelladministration.co.uk Phone number used 0208 058 3679 Authorisation in Ireland Russell Administration Limited (CLONE) is not authorised to provide investment services in Ireland. This unauthorised firm has cloned the details of authorised firm to pass itself off as legitimate to deceive consu...
The Central Bank of Ireland has issued a warning notice on 23 July 2026 against “Russell Administration Limited (CLONE)”, an unauthorised investment / investment business firm that is cloning the identity of a legitimate authorised firm to deceive consumers. This highlights ongoing risks from clone investment scams and reinforces the need for Irish- and EU-authorised firms to strengthen controls around impersonation, client communications, and checks against the Central Bank Registers and unauthorised firms list.
What Changed
- - The Central Bank of Ireland has formally designated “Russell Administration Limited (CLONE)” as an unauthorised investment firm under section 53 of the Central Bank (Supervision and Enforcement)...
- The warning confirms that Russell Administration Limited (CLONE) is not authorised to provide investment services in Ireland, and that there is no connection between this clone entity and the...
- The Central Bank has publicly disclosed specific identifiers for the unauthorised firm (website, email address, and phone number) to assist firms and consumers in recognising and blocking fraudulent...
- The notice reiterates that firms and individuals can report suspected unauthorised or clone firms directly to the Central Bank via designated telephone contact points.
- By publishing the warning, the Central Bank reinforces its policy that operating as an investment firm in Ireland without appropriate authorisation is unlawful and subject to supervisory and...
Suggested Considerations
- Verify that your firm’s name, contact details, and regulatory authorisation information have not been cloned or misused by Russell Administration Limited (CLONE) or other similar entities, and escalate any evidence of impersonation to the Central Bank and local law enforcement.
- Update client-facing communications, including website fraud alerts and investor letters, to warn about clone firms and specifically list known identifiers (such as the Russell Administration Limited (CLONE) website, email address, and phone number) where relevant to your client base.
- Instruct front-office, call centre, and relationship management staff to advise clients to check the Central Bank Registers and unauthorised firms list before engaging with any entity claiming to be regulated in Ireland, and to report any suspicious contact immediately.
- Review and strengthen internal financial crime and fraud detection controls to include explicit screening for clone firm indicators, such as mismatched contact details, unregistered domains, and requests to transfer funds to newly introduced counterparties.
- Incorporate the Russell Administration Limited (CLONE) warning and similar Central Bank warning notices into your firm’s ongoing financial crime risk assessments and customer risk profiling, particularly for high-risk investment products and cross-border services.
Key Dates
- Central Bank of Ireland publishes the warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 naming Russell Administration Limited (CLONE) as an unauthorised investment firm
Compliance Impact
Non-compliance primarily manifests as failure to detect and respond to clone firm activity, which can expose clients to fraud, generate significant conduct and reputational risk, and trigger supervisory scrutiny of your firm’s financial crime and consumer protection controls. While the warning is directed at consumers and unauthorised activity, regulated firms that ignore such warnings may face regulatory questions about the adequacy of their systems and controls.
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Asset ManagerBroker DealerWealth Manager Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Aoncfd (CLONE) Websites https://aoncfd.com https://client.aoncfd.com/app.php Email addresses used support@aoncfd.com Purported address Iveagh Court 6, Harcourt Road, Dublin 2, Irlanda Phone number used None Authorisation in Ireland Aoncfd (Clone) is not authorised to operate as an investment firm or investment business firm in Ireland. Additional information It has come to the attention of the Central Bank...
The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **Aoncfd (CLONE)**, an unauthorised online CFD trading provider that is falsely claiming a Dublin presence and cloning details of **Aon Solutions Ireland Limited**, a CBI‑authorised firm. This reinforces regulatory expectations that authorised firms and intermediaries implement robust controls to detect and respond to clone‑firm activity, particularly where their own identity is being misused to target consumers and investors.
What Changed
- - The CBI has formally listed Aoncfd (CLONE) as an unauthorised investment firm / investment business firm that is not permitted to provide investment services or operate as an investment firm in...
- The CBI has publicly identified Aoncfd (CLONE)’s websites, email address, and purported Dublin address to support monitoring and blocking efforts by firms and market infrastructures.
- The CBI has clarified that Aoncfd (CLONE) is a clone entity that has copied the name, address and foreign registration details (CONSOB Registration 5141) of Aon Solutions Ireland Limited, and that...
- The publication reiterates that the CBI will use its section 53 naming power under the Central Bank (Supervision and Enforcement) Act 2013 to publicly warn about unauthorised firms.
- The notice reinforces existing expectations that firms, consumers, and intermediaries should use the CBI’s authorisations register and list of unauthorised firms as part of fraud and clone‑risk...
Suggested Considerations
- Firms should immediately screen client referral sources, onboarding records, and any existing or prospective relationships against the identifiers published for Aoncfd (CLONE) (names, URLs, email, and purported address) and block or terminate any exposure.
- Compliance teams should update internal fraud and financial crime watchlists and sanctions‑style screening tools to include Aoncfd (CLONE) and the specific URLs, email address and address cited in the warning.
- Authorised firms, particularly Aon Solutions Ireland Limited, should conduct brand‑misuse and impersonation checks (including web‑scraping, social media monitoring and domain surveillance) to identify further clone activity and prepare incident‑response plans.
- Client‑facing staff should be briefed via targeted compliance communications to warn clients about clone firms and to ensure they direct clients to the CBI’s register and unauthorised firms list when verifying any investment provider claiming an Irish authorisation.
- Firms should review and, where necessary, enhance KYC and onboarding controls to include explicit verification of a counterparty’s regulatory authorisation in Ireland (or relevant jurisdiction) and checks for inconsistencies between provided details and registry information.
Key Dates
- CBI issues the formal warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 naming Aoncfd (CLONE) as an unauthorised firm and publishing its details
Compliance Impact
Non‑compliance with expectations around detecting and responding to clone‑firm activity can lead to significant consumer harm, conduct risk and supervisory scrutiny, including potential enforcement if firms fail to maintain adequate systems and controls to prevent misuse of their identity. While the warning is directed at an unauthorised third party, authorised firms implicated by cloning risk reputational damage, client loss and potentially civil claims if they are perceived not to have taken reasonable steps to warn and protect customers.
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original CBI source
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Warning: Unauthorised Investment Firm / Investment Business Firm / Alternative Investment Fund Manager Unauthorised Firm Name MacKay Shields UK LLP (CLONE) Website(s) None Email address(es) used support@mackay-shields.email Phone number(s) used WhatsApp nr(s) used: +351 916 719 422 +351 933 813 914 WhatsApp Q91 Group Telephone nr(s) used: +351 916 719 422 +351 933 813 914 +966 684 260 Authorisation in Ireland MacKay Shields UK LLP (CLONE) is not authorised to provide Investment services or In...
The Central Bank of Ireland has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **MacKay Shields UK LLP (CLONE)**, a fraudulent, unauthorised clone firm using messaging apps and mobile numbers to offer fake investments and operate the NYLI and NYLIPLUS applications. The entity has cloned the details of the legitimately authorised MacKay Shields UK LLP (CBI register C121665) and is unlawfully holding itself out as an investment firm, investment business firm and AIFM in Ireland, which has direct implications for Irish‑authorised firms whose brands are cloned and for any intermediary or distributor interacting with Irish clients.
What Changed
- - The Central Bank of Ireland has formally designated “MacKay Shields UK LLP (CLONE)” as an unauthorised investment firm / investment business firm / alternative investment fund manager and published...
- The notice clarifies that MacKay Shields UK LLP (CLONE) is not authorised to provide investment services, investment business services or AIFM services in Ireland and therefore any financial services...
- The Central Bank highlights that the clone firm has been offering fake investments via the applications NYLI and NYLIPLUS, emphasising a specific scam vector via investment apps rather than...
- The warning confirms that the clone firm has cloned the name and registration details of the legitimate MacKay Shields UK LLP (Central Bank register C121665), reinforcing the pattern of...
- The firm’s name is being published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, signalling that the Central Bank considers the activity sufficiently serious to warrant...
Suggested Considerations
- Review and update client‑facing communications, website content and FAQs to warn clients about clone‑firm risks, specifically referencing messaging‑app contact details and investment apps such as NYLI and NYLIPLUS that are not associated with authorised firms.
- Implement or enhance procedures within AML / financial crime and fraud‑risk frameworks to identify and escalate interactions involving the listed email address (support@mackay-shields.email) and the specified WhatsApp and telephone numbers, treating them as indicators of potential scam activity.
- Instruct front‑office, client‑relationship and call‑centre staff to verify authorisation status using the Central Bank’s public registers before acknowledging or forwarding any investment proposals that reference “MacKay Shields UK LLP” or similar branding.
- Notify internal legal and regulatory affairs teams, and where relevant the legitimate MacKay Shields UK LLP, of the clone warning to coordinate responses, client communications and potential reporting of any attempted impersonation or fraudulent use of the authorised firm’s details.
- Review existing third‑party distribution and referral arrangements to ensure counterparties are not using or promoting NYLI, NYLIPLUS or similar unregulated applications, and add contractual provisions requiring immediate notification if cloning or impersonation is suspected.
Key Dates
- Central Bank of Ireland issues and publishes the warning notice against MacKay Shields UK LLP (CLONE) as an unauthorised investment firm / investment business firm / AIFM and lists its name under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
Non‑compliance primarily manifests as failure to detect, prevent and appropriately respond to client exposure to unauthorised clone firms, which can lead to significant consumer detriment, reputational damage, supervisory scrutiny and potential enforcement action where firms’ conduct or controls are found inadequate. Firms whose identities are cloned also face operational disruption and possible regulatory queries if they do not actively manage and communicate around impersonation risks.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
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Asset ManagerWealth ManagerBank Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP Website(s) www.iron-cap.com https://www.iron-cap.io/ https://www.iron-cap.io/fr/forgot-password/ Email address(es) used support@iron-cap.com Samuel.breval@iron-cap.com Phone number(s) used None Authorisation in Ireland AGF International Advisors Company Limited (CLONE) and/or Iron-Cap/IRONCAP is not authorised to provide Investmen...
The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against a **fraudulent clone** using the name AGF International Advisors Company Limited and the brand Iron-Cap / IRONCAP, operating via several websites and email addresses without authorisation to provide investment services in Ireland. This matters for compliance teams because the cloned entity is impersonating a fully authorised CBI firm (AGF International Advisors Company Limited, CBI00022137), creating heightened financial crime, conduct, and reputational risks, and necessitating strengthened client-onboarding and counter‑party due‑diligence controls to detect and manage clone‑firm exposure.
What Changed
- - The CBI has formally designated AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP as an unauthorised investment firm / investment business firm and has published its...
- The specific websites www.iron-cap.com and https://www.iron-cap.io (including the French-language path https://www.iron-cap.io/fr/forgot-password/) have been identified as associated with this...
- The email addresses support@iron-cap.com and Samuel.breval@iron-cap.com have been flagged as being used by the unauthorised entity in connection with the Iron-Cap / IRONCAP investment offering.
- The CBI has reiterated that the clone is not authorised to provide investment services or investment business services in Ireland and has explicitly clarified that there is no connection whatsoever...
- The warning reinforces existing CBI expectations that Irish‑authorised firms and gatekeepers must monitor and respond to clone‑firm activity, including by reporting suspected unauthorised firms...
Suggested Considerations
- Review and update client‑onboarding procedures to include specific screening for the websites www.iron-cap.com and https://www.iron-cap.io and the email domains associated with Iron-Cap / IRONCAP, flagging and escalating any matches as suspected clone‑firm exposure.
- Update sanctions, fraud, and financial crime screening tools and internal watchlists to include the unauthorised firm identifiers associated with AGF International Advisors Company Limited (CLONE) and Iron-Cap / IRONCAP, ensuring alerts are generated for relevant customer or transaction hits.
- Strengthen fraud‑awareness communications to clients and staff by referencing the CBI’s financial scam materials, emphasising the risks of dealing with unauthorised firms and clone entities, and advising clients to verify firm authorisation before investing.
- Establish or update an internal escalation protocol for suspected clone‑firm activity, ensuring that all such cases are reported promptly to the CBI via the dedicated unauthorised firms reporting channels and, where applicable, to other relevant regulators.
Key Dates
- CBI publishes the warning notice on AGF International Advisors Company Limited (CLONE) and/or Iron-Cap / IRONCAP as an unauthorised investment firm / investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
Failure to identify and appropriately manage interactions with unauthorised clone firms exposes regulated institutions to heightened AML/financial crime risk, consumer protection breaches, and significant reputational damage, and may result in supervisory scrutiny or enforcement for inadequate systems and controls. For clients misled into dealing with unauthorised firms, there is a high risk of loss without access to statutory investor compensation or regulatory recourse.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerBank Warning: Unauthorised Investment Firm Unauthorised Firm Name Arbionis Website https://arbionis-ireland.com Phone number used +353 612 34 56 78 Authorisation in Ireland Arbionis is not authorised to provide investment services in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or report an unauthorised firm directly to the Central Bank . For more information on how to protect yourself from financial scam...
The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **Arbionis**, stating that it is an **unauthorised investment firm** and is **not authorised to provide investment services in Ireland**. This matters for compliance teams because it reinforces obligations around dealing only with duly authorised counterparties, screening against CBI’s unauthorised firms list, and ensuring robust customer and third‑party due diligence to avoid facilitation of unregulated investment activity.
What Changed
- - The CBI has formally designated Arbionis as an unauthorised investment firm and published its details (name, website, phone number) as a warning notice on its website.
- The CBI has clarified that Arbionis is not authorised to provide investment services in Ireland, meaning it cannot lawfully carry out regulated investment activities in or into Ireland.
- The name Arbionis has been published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, confirming this is part of the CBI’s supervisory and enforcement toolkit against...
- The warning reiterates that market participants and the public should use the CBI’s channels (telephone line and online reporting tool) to report suspected unauthorised firms or persons.
- The CBI re‑emphasises its consumer‑protection messaging, directing individuals and firms to its dedicated financial scams information page, thereby underlining expectations that firms proactively...
Suggested Considerations
- Screen all existing and prospective counterparties, introducers, and investment product providers against the CBI unauthorised firms list, and update internal watchlists to include Arbionis and its known identifiers (name, website, phone number).
- Prohibit onboarding Arbionis as a counterparty, intermediary, or service provider and ensure no marketing, introduction, or distribution arrangements exist or are entered into with this firm.
- Conduct an immediate review of client transaction flows and communications to identify any exposure to Arbionis, including referrals, introductions, payments, or client queries referencing Arbionis or its website.
- If any exposure to Arbionis is identified, escalate to compliance and legal functions, assess potential consumer detriment, and consider notifying the Central Bank of Ireland via the dedicated phone number or online reporting channel.
- Enhance client‑facing communications and website content to warn clients about unauthorised investment firms, referencing the CBI’s financial scams guidance and explaining how clients can verify authorisation status.
Key Dates
- CBI issues and publishes the warning notice that Arbionis is an unauthorised investment firm and is not authorised to provide investment services in Ireland, with the name published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
Non‑compliance with Irish regulatory requirements on authorisation and dealings with unauthorised firms can expose entities to enforcement risk, civil liability, and significant consumer‑protection issues, especially if clients suffer losses through referrals or introductions to such firms. Failure to detect or act on CBI warning notices may also be viewed negatively in supervisory assessments of governance, conduct risk, and financial crime controls.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
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Asset ManagerBroker DealerWealth Manager Warning: Unauthorised Investment Firm / Investment Business Firm / Crypto-Asset Service Provider Unauthorised Firm Name Lambestone Holding Limited (CLONE) Website • www.lambestoneholding.com • www.secured.lambestoneholding.com • www.lambestone.com/en/ Email address used • support@lambestone.com • thomas.clark@lambestone.com • support@lambestoneholding.com Telephone Numbers used • + 44 7935319927 • + 44 2045798184 • + 579 9845330 • + 1 782 612 0080 • + 16472438410 • + 442081500056 Authorisatio...
The Central Bank of Ireland (CBI) has issued a warning that **“Lambestone Holding Limited (CLONE)” is an unauthorised investment firm / investment business firm / crypto‑asset service provider** and is not authorised to operate or provide services in Ireland. The entity is a scam “clone firm” that has misappropriated the name, address and CRO number of a legitimate company, which heightens impersonation risk for regulated firms and underscores the need for robust client‑onboarding, fraud‑prevention and name‑screening controls.
What Changed
- - The CBI has formally designated Lambestone Holding Limited (CLONE) as an unauthorised investment firm, investment business firm and crypto‑asset service provider for Ireland, and has published its...
- The warning confirms that Lambestone Holding Limited (CLONE) is not authorised to operate as an investment firm or to provide crypto‑asset services in Ireland, and therefore may not lawfully provide...
- The CBI explicitly identifies Lambestone Holding Limited (CLONE) as a “clone firm” that has copied the name, address and CRO number of a legitimate company in the Companies Registration Office (CRO)...
- The CBI clarifies that there is no connection whatsoever between the legitimate CRO‑registered company and the scam entity, thereby protecting the reputation of the genuine firm and reducing...
- The warning includes a non‑exhaustive list of websites, email domains and telephone numbers used by the clone (multiple .com domains, support and individual email accounts, and international phone...
Suggested Considerations
- Update internal sanctions, fraud, and high‑risk entity screening lists immediately to include Lambestone Holding Limited (CLONE), its known websites, email addresses and telephone numbers, and ensure these are used in client onboarding, periodic KYC reviews and transaction monitoring.
- Instruct client‑facing and dealing staff not to refer clients to, or accept instructions from, Lambestone Holding Limited (CLONE) or any individual using the listed domains, emails or phone numbers, and document this in internal guidance.
- Review and enhance client‑due‑diligence procedures to include explicit checks for clone‑firm indicators, including mismatches between a firm’s claimed regulatory status and the CBI online registers, as well as verification against CRO records.
- Implement a formal process to monitor and log Central Bank of Ireland warning notices (and similar notices from ESMA, other EU national competent authorities, FCA, etc.) and to propagate relevant alerts across first‑ and second‑line control functions.
- Conduct targeted staff awareness and training sessions for front‑office, call‑centre, and complaints‑handling teams on clone‑firm typologies, with Lambestone Holding Limited (CLONE) used as a current example of CRO‑identity cloning.
Key Dates
- CBI issues and publishes the warning notice that Lambestone Holding Limited (CLONE) is an unauthorised investment / investment business firm / crypto‑asset service provider and that its name is listed under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
The compliance impact is high: dealing with, introducing business to, or failing to protect clients from clearly identified unauthorised and clone firms can expose regulated entities to supervisory criticism, enforcement risk, and significant conduct‑risk and reputational damage. While the CBI warning is aimed primarily at the public, regulators increasingly expect supervised firms to evidence proactive monitoring of such notices and to embed them into financial crime and consumer‑protection controls.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerBroker DealerWealth Manager Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name AllianceBernstein Limited (CLONE) Email Address’s • clientservices@abprivatemanagement.com • info@abprivatemanagement.com Authorisation in Ireland AllianceBernstein Limited (Clone) is not authorised to operate as an investment firm or investment business firm in Ireland. Additional Information This scam firm cloned the details (name and address) of the legitimate Central Bank authorised firm in order to ad...
What Changed
- - The CBI has formally published AllianceBernstein Limited (CLONE) under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 as an unauthorised firm.
- The warning confirms that the clone is not authorised to provide investment firm or investment business firm services in Ireland.
- The CBI identifies the use of cloned identity details—specifically the legitimate firm’s name and address—as a deceptive tactic intended to add legitimacy to the scam.
- The notice provides the specific scam email addresses used by the unauthorised entity, which should be treated as fraud indicators in screening and client-education controls.
- The CBI reiterates that consumers and counterparties can report suspicious firms directly to the regulator and that the publication sits within its broader anti-scam warning framework.
Suggested Considerations
- Verify that any entity claiming to be AllianceBernstein Limited is matched against the CBI authorisation register before any onboarding, trading, mandate acceptance, or payment activity.
- Block or escalate any contact using the email addresses clientservices@abprivatemanagement.com and info@abprivatemanagement.com as potential fraud indicators.
- Update fraud and onboarding controls to detect clone-firm impersonation, including mismatches in firm name, address, domain, and regulator reference details.
- Notify client-facing teams and operations staff that the legitimate authorised firm has no connection with the clone entity and that enquiries should be independently verified.
- Refresh customer communications and website warnings to remind clients to confirm authorisation status before sharing funds or instructions.
Key Dates
- The Central Bank of Ireland issued the warning notice identifying AllianceBernstein Limited (CLONE) as an unauthorised investment firm/investment business firm
Compliance Impact
The severity is high because the publication signals an active unauthorised-firm scam that can lead to client losses, reputational damage, and potential control failures if firm verification processes are weak. Firms that ignore clone warnings may inadvertently facilitate fraud, miss suspicious activity indicators, or expose clients to non-compensable losses.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
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Asset ManagerWealth ManagerAll Firms
Warning: Unauthorised Investment Firm / Unauthorised Investment Business Firm Unauthorised Firm Name LARL F.S / LARL Financial Services (CLONE) Website https://larlfs.com/ Email addresses used • enquiries@larlfs-eu.com • info@larlfs.com • liam.mccarthy@larlfs-eu.com Authorisation in Ireland LARL F.S / LARL Financial Services (Clone) is not authorised to provide investment services in Ireland. Additional Information This firm is cloning the identity of the legitimate Central Bank authorised fi...
On 17 June 2026, the Central Bank of Ireland (CBI) issued a Section 53 warning naming “LARL F.S / LARL Financial Services (CLONE)” as an unauthorised investment firm that is fraudulently cloning the identity of the authorised firm LARL Financial Services Limited (C176004). The notice highlights active misuse of a genuine CBI authorisation number and branding, reinforcing the need for regulated firms and distributors to strengthen counter‑fraud due diligence, verification of counterparties, and investor communications around clone scams.
What Changed
- - The CBI has formally designated “LARL F.S / LARL Financial Services (CLONE)” as an unauthorised investment firm / unauthorised investment business firm and has added it to its public list of...
- The CBI has confirmed that LARL F.S / LARL Financial Services (CLONE) is not authorised to provide investment services in Ireland and is falsely claiming to be regulated by the CBI under reference...
- The CBI has identified specific scam touchpoints used by the clone, including the website larlfs.com and email domains larlfs-eu.com and larlfs.com, enabling firms to update internal watchlists and...
- The CBI has explicitly clarified that there is no connection whatsoever between the clone entity and the legitimate authorised firm LARL Financial Services Limited (C176004), thereby protecting the...
- The warning reiterates the CBI’s use of its Section 53 powers to publish the name of firms that either provide financial services without appropriate authorisation or hold themselves out as regulated...
Suggested Considerations
- Update internal sanctions, fraud, and high‑risk entity lists to include “LARL F.S / LARL Financial Services (CLONE)” and the domains larlfs.com and larlfs-eu.com, and block these from use in onboarding, payments, and trading systems.
- Conduct an immediate review of current and recent client files, leads, and referrals to identify any exposure to or interaction with the clone entity, and where found, assess whether suspicious transaction reports or fraud notifications are required under local AML and financial crime rules.
- Issue client communications or website notices, especially if your firm’s name is similar to LARL Financial Services, warning clients about clone scams, clarifying official contact points, and instructing clients never to rely on unsolicited contact or unverified email domains.
- Update fraud‑awareness and conduct‑risk training materials for staff to cover CBI warnings on clone firms, the specific red flags (misuse of legitimate authorisation numbers, mismatched contact details, unverified websites), and the internal process to verify a firm’s authorisation status.
- Review existing distribution and introducer agreements to ensure there is an explicit prohibition on counterparties using the firm’s name, logo, or authorisation details in any way that could facilitate cloning or misrepresentation of regulatory status.
Key Dates
- CBI publishes the Warning Notice naming “LARL F.S / LARL Financial Services (CLONE)” as an unauthorised firm under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013 and confirms that it is not authorised to provide investment services in Ireland
Compliance Impact
Non‑compliance with expectations around verification of authorisation status, management of clone‑firm risk, and client protection could result in significant conduct‑risk events, potential regulatory scrutiny, civil claims from mis‑sold or defrauded clients, and reputational harm. Failure to detect or respond to interactions with known unauthorised firms may be viewed by the CBI as evidence of inadequate systems and controls in areas such as financial crime prevention and client onboarding.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerBroker Dealer Warning: Unauthorised Investment Firm/ Investment Business Firm/Alternative Investment Firm Manager Unauthorised Firm Name Oristan Ireland Designated Activity Company (CLONE) Website • www.oristanirelanddac.com • https://oristanireland-dac.com/ • https://oristan-ire.com/ • https://oristanportal.com/ Email address used • info@oristanirelanddac.com • j.armstrong@oristanirelanddac.com • r.gorman@oristanirelanddac.com • r.gorman@oristan-ireland.com • glenmiller@oristanirelanddac.com Phone number(...
The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 regarding **“Oristan Ireland Designated Activity Company (CLONE)”**, an unauthorised firm falsely claiming to be the CBI‑authorised Oristan Ireland DAC and using multiple websites, emails, and Irish phone numbers to deceive consumers. This is part of a broader pattern of clone-firm scams targeting Irish and EU investors and requires compliance teams to tighten client‑onboarding, name‑screening, and website/email verification controls to prevent dealings with unauthorised entities.
What Changed
- - The CBI has formally identified “Oristan Ireland Designated Activity Company (CLONE)” as an unauthorised investment firm / investment business firm / alternative investment fund manager and...
- The CBI confirms that the clone firm is not authorised in Ireland to provide investment services, investment business services, or AIFM activities, despite using the name, address and CBI...
- The warning enumerates specific fraud infrastructure used by the clone: four domains (including “oristanirelanddac.com”, “oristan-ire.com” and “oristanportal.com”), multiple email addresses...
- The CBI explicitly clarifies there is no connection whatsoever between the legitimate authorised Oristan Ireland DAC and the clone entity or its websites.
- The firm’s name is published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, reinforcing the statutory basis for public warning notices against unauthorised firms.
Suggested Considerations
- Update internal unauthorised / fraud firm watchlists and screening tools to include “Oristan Ireland Designated Activity Company (CLONE)” and all associated domains, email addresses and phone numbers listed in the CBI notice.
- Implement or enhance name‑matching and clone‑detection controls in onboarding processes to distinguish between the legitimate Oristan Ireland DAC (as per the CBI register) and any entity using the clone websites or contacts.
- Review and adjust KYC/CDD procedures to ensure that unusual or mismatched email domains, websites, or phone numbers (particularly those not appearing on the CBI register or official corporate filings) trigger enhanced due diligence and formal second‑line review.
- Conduct a targeted communication and training for relationship managers, sales staff, call‑centre agents and client‑facing teams on the Oristan clone case and recent CBI clone‑firm warnings, with practical red‑flag indicators and escalation channels.
- Review current fraud‑risk and AML / financial crime frameworks to confirm that clone‑firm risks (including identity theft of authorised entities) are explicitly covered in risk assessments, controls, and monitoring scenarios.
Key Dates
– CBI warning notice published under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 identifying Oristan Ireland Designated Activity Company (CLONE) as an unauthorised firm
Compliance Impact
Clone‑firm exposure engages both consumer protection / conduct risk and financial crime risk, and failure to detect or respond appropriately could lead to client losses, mis‑selling exposure, civil liability, and regulatory criticism for inadequate systems and controls. Given the pattern of CBI warnings, regulators are likely to expect demonstrable, risk‑based controls around verification of counterparties and claimed authorisations, making this a high‑priority enhancement area for compliance teams.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerBroker DealerWealth Manager Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name FTI Finance Limited (CLONE) Website • https://client.ftifinanceltd.com/auth/login • https://ftifinance-ltd.com/ • https://ftifinancelimited.com Email address used • support@ftifinancelimited.com • support@ftifinance-ltd.com Authorisation in Ireland FTI Finance Limited (CLONE) is not authorised to operate as an investment firm or investment business firm in Ireland. Additional Information This scam firm clo...
The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in relation to **FTI Finance Limited (CLONE)**, an unauthorised investment firm / investment business firm using multiple websites and email domains to impersonate a legitimately authorised firm of the same name. The notice formally confirms that this entity is not authorised to provide investment services in Ireland and highlights a **clone scam** targeting investors, which requires immediate enhancement of client‑facing controls, due diligence, and fraud‑risk processes in all Ireland‑facing businesses.
What Changed
- - CBI has formally designated “FTI Finance Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details on the Central Bank’s unauthorised firms warning...
- The CBI explicitly clarifies that FTI Finance Limited (CLONE) is not authorised to operate as an investment firm or investment business firm in Ireland and therefore cannot legally provide MiFID‑type...
- The warning identifies specific websites associated with the clone entity that must be treated as high‑risk indicators in client and transaction screening:
-...
- The warning identifies specific email addresses used by the clone, which should be added to firms’ fraud and sanctions‑style screening lists:
- support@ftifinancelimited.com
-...
- CBI confirms that the scam entity has cloned the details of a CBI‑authorised firm of the same name, underscoring a continuing supervisory focus on clone firm scams and the expectation that regulated...
Suggested Considerations
- Screen existing and new customers against the details in the CBI warning and immediately block or enhance review of any relationships, communications, or transactions involving the listed websites or email domains linked to FTI Finance Limited (CLONE).
- Update internal fraud and financial crime watchlists to include the name “FTI Finance Limited (CLONE)” as well as the specific domains and email addresses identified in the CBI notice.
- Enhance customer‑facing verification processes to require staff to confirm the regulatory status of any firm claiming to be FTI Finance Limited against the CBI public register before onboarding, referral, or execution of transactions.
- Review and update client communications, investor education materials, and website FAQs to highlight the risks of clone firms, directing clients to verify authorisation using the CBI register and to consult CBI’s financial scams information.
- Train front‑office, call‑centre, compliance, and fraud‑operations staff on the characteristics of clone investment scams, including this specific case, and embed clear escalation procedures for suspected clone activity.
Key Dates
- CBI publishes the warning notice on FTI Finance Limited (CLONE) as an unauthorised investment firm / investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
Failure to implement appropriate controls to prevent dealings with unauthorised or clone firms can expose regulated entities to CBI supervisory findings, enforcement action, and significant conduct risk, including client loss and litigation. The publication also raises financial crime and fraud‑risk expectations, so inadequate response may be treated as a failure of governance, customer due diligence, and consumer protection frameworks.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerBankWealth Manager Warning: Unauthorised Irish Collective Asset-Management Vehicle (ICAV) Unauthorised Firm Name Insight Investment Solutions ICAV (CLONE) Website Address https://investmentsolutionsfunds.eu/ Telephone Number 02890137409 Email Address info@insightinvestment.ie Authorisation in Ireland The Clone Firm is not authorised to provide financial services in Ireland. Additional Information The Clone Firm is using the name and Central Bank Registration Number of the legitimate Central Bank authorised Fund...
The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against a **clone** entity using the name *Insight Investment Solutions ICAV (CLONE)*, fraudulently holding itself out as an authorised Irish Collective Asset-management Vehicle (ICAV). The scam firm is using the name and Central Bank registration number of the legitimate CBI‑authorised fund Insight Investment Solutions ICAV, with no connection between them, creating significant conduct, fraud‑risk, and client‑asset risks for firms that may be exposed via distribution, introductions, or client referrals.
What Changed
- - The CBI has formally designated *Insight Investment Solutions ICAV (CLONE)* as an unauthorised ICAV and publicly listed it as an unauthorised firm under section 53 of the Central Bank (Supervision...
- The CBI confirms the clone firm is not authorised to provide financial services in Ireland and is unlawfully using the name and Central Bank registration number of the legitimate ICAV to deceive...
- The warning explicitly clarifies that there is no connection whatsoever between the legitimate Central Bank authorised Insight Investment Solutions ICAV and the clone entity, which must now be...
- Contact details (website, telephone number, email) used by the clone are now identified by the CBI as fraudulent identifiers that should be incorporated into internal fraud and financial‑crime...
- The publication reinforces the CBI’s expectation that firms and the public report suspected unauthorised firms to the CBI and consult CBI public registers and scam guidance when verifying...
Suggested Considerations
- Update internal sanctions, fraud, and negative‑news screening lists and any “unauthorised firms” watchlists to include Insight Investment Solutions ICAV (CLONE) and its associated website, phone number, and email address.
- Instruct onboarding, KYC, and product‑approval teams to verify any reference to “Insight Investment Solutions ICAV” directly against the CBI registers, ensuring the Central Bank registration number and contact details match the legitimate authorised ICAV, not the clone.
- Implement or reinforce clone‑firm detection controls, including validation of firm names, registration numbers, URLs, emails, and phone numbers against official CBI (and other relevant NCA) registers before onboarding a fund, manager, or distributor.
- Circulate a targeted internal fraud/scam alert to front‑office, distribution, advisory, call‑centre, and client‑facing staff highlighting the existence of this specific clone, its identifiers, and the escalation process if approached.
- Review and, where necessary, update financial promotions and distribution due‑diligence procedures to require confirmation that any Irish ICAV referenced in marketing materials is directly verified on the CBI register and not accessed via unverified third‑party domains.
Key Dates
- CBI issues and publishes the warning notice identifying Insight Investment Solutions ICAV (CLONE) as an unauthorised ICAV and clarifying the absence of any connection with the legitimate authorised fund
Compliance Impact
Failure to detect and avoid dealing with clone firms exposes regulated entities to material risks of facilitating fraud, mis‑selling, customer losses, and serious breaches of consumer‑protection, financial‑crime, and authorisation rules. Regulatory consequences may include supervisory findings, enforcement action, civil claims from investors, and reputational damage where firms are found to have inadequate due‑diligence and verification controls.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerBank Warning: Unauthorised Investment Firm / Investment Business Firm / Crypto-Asset Service Provider Unauthorised Firm Name AMOVA Asset Management Ireland Limited (Clone) Website https://amova-assets.com/ Email address used admin@amova-asset.com Authorisation in Ireland AMOVA Asset Management Ireland Limited (Clone) is not authorised to operate as an investment firm, investment business firm or provide crypto-asset services in Ireland. Additional Information This firm cloned the details of a legi...
On 03 June 2026, the Central Bank of Ireland (CBI) issued a Warning Notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in relation to **AMOVA Asset Management Ireland Limited (Clone)**, highlighting it as an unauthorised **investment firm / investment business firm / crypto‑asset service provider** operating in Ireland. The entity has cloned the details of a legitimate CBI‑authorised firm of the same name, which materially heightens fraud, mis‑selling, and counterparty risk for regulated firms and their clients, and demands strengthened onboarding, name‑screening and fraud‑risk controls.
What Changed
- - The CBI has formally designated “AMOVA Asset Management Ireland Limited (Clone)” as an unauthorised investment firm, investment business firm and crypto‑asset service provider for the purposes of...
- The Warning Notice confirms that the clone entity is not authorised to operate in Ireland and must not be treated as a regulated counterparty or service provider.
- The CBI explicitly clarifies there is no connection whatsoever between the Central Bank‑authorised firm of the same name and the scam entity, reinforcing expectations for firms to distinguish between...
- The publication reiterates that the entity is using website and email details (including the domain amova‑assets.com and the email admin@amova‑asset.com) to approach consumers, which should be...
- By publishing the firm name under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, the CBI reinforces its ongoing supervisory focus on clone‑firm frauds and the expectation that...
Suggested Considerations
- Configure name‑screening tools, CRM systems and vendor/onboarding databases to flag “AMOVA Asset Management Ireland Limited”, “AMOVA Asset Management Ireland Limited (Clone)”, the website domain “amova‑assets.com” and the email “admin@amova‑asset.com” as high‑risk indicators requiring escalation.
- Implement controls to distinguish between the legitimate CBI‑authorised AMOVA firm and the clone, for example by storing verified legal entity identifiers (LEIs), company registration numbers, CBI authorisation numbers and official domains for the legitimate firm.
- Train relationship managers, advisers, client‑facing staff and call‑centre teams to recognise characteristics of clone‑firm scams, including cloned names, look‑alike websites and unsolicited approaches, using this warning and recent similar CBI notices as case studies.
- Review and, where necessary, strengthen client‑communication and investor‑education materials to explain the risk of clone firms, directing clients to the CBI’s public registers and warning notices to independently verify firm authorisation.
- Enhance fraud‑risk and financial crime risk assessments to explicitly include clone‑firm risks in the investment, wealth‑management, and crypto‑asset channels, and document how these risks are mitigated (e.g. screening, call‑back controls, domain verification).
Key Dates
- CBI issues the Warning Notice on AMOVA Asset Management Ireland Limited (Clone), formally confirming it is unauthorised to operate as an investment firm, investment business firm or to provide crypto‑asset services in Ireland, and publishing its details under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
Non‑compliance with these expectations does not directly breach a new rule, but materially increases exposure to fraud, mis‑selling and client detriment, which can lead to enforcement action under existing consumer protection, conduct‑of‑business, financial crime and governance rules if firms fail to prevent, detect, or respond appropriately to clone‑firm activity. The warning also signals heightened supervisory scrutiny; failure to integrate CBI Warning Notices into risk management and onboarding frameworks can be viewed as a weakness in systems and controls.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerBroker Dealer Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Apel Investments trading name of Apel Financial Services Distribution (CLONE) Website(s) • https://apelinvestments.com • https://client.apelinvestments.com/register • https://client.apelinvestments.com/login • https://apelinvestments.com/metatrader/ • https://apelinvestments.com/webtrader/ Email address(es) used • support@apelinvestments.com • help@apelinvestments.com • claim@apelinvestments.com • sup@apel...
The Central Bank of Ireland (CBI) has issued a warning under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 against **Apel Investments**, a **clone** of authorised firm **APEL Financial Distribution Services Limited**, which is not authorised to provide investment or investment business services in Ireland. This highlights heightened expectations on regulated firms to strengthen client‑facing controls, fraud‑risk frameworks and screening processes to detect and respond to clone frauds and unauthorised investment activity.
What Changed
- - The CBI has formally listed Apel Investments (trading as Apel Financial Services Distribution) as an unauthorised investment firm / investment business firm that is not permitted to provide...
- The CBI confirms that Apel Investments is a clone of an authorised firm (APEL Financial Distribution Services Limited) and has been passing itself off as the legitimate firm to deceive consumers.
- The CBI explicitly states that there is no connection between the authorised firm and the unauthorised clone, clarifying that any services provided by Apel Investments are outside the regulated...
- The warning identifies specific websites and client portals (including trading platforms such as “metatrader” and “webtrader” paths) associated with the unauthorised firm, signalling that these URLs...
- The CBI lists multiple email addresses and phone numbers used by the unauthorised firm, effectively expanding the set of indicators firms should use in fraud‑monitoring, sanctions‑screening‑adjacent...
Suggested Considerations
- Review and update fraud‑risk, financial‑crime, and customer‑onboarding procedures to screen against the specific Apel Investments URLs, email addresses and phone numbers listed in the CBI warning.
- Update internal watchlists and case‑management systems to flag Apel Investments and associated identifiers as a known unauthorised clone entity and ensure alerts are generated where they appear in customer interactions or transaction narratives.
- Conduct a targeted review of recent and pending client complaints, queries and transaction patterns to identify any potential exposure of clients to Apel Investments or similarly named entities.
- Enhance staff training, particularly for front‑office, contact‑centre and complaints teams, to ensure they can recognise clone‑firm indicators and correctly advise customers about unauthorised firms and the CBI warning.
- For firms with similar names or branding, prepare clear customer communications and website notices that distinguish the authorised entity from any clone and direct clients to the CBI’s warning list and scam‑awareness materials.
Key Dates
- CBI issues the warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in relation to Apel Investments (CLONE) as an unauthorised investment firm / investment business firm
Compliance Impact
The immediate regulatory risk from this particular notice is indirect, but failure to implement reasonable fraud‑prevention, perimeter‑breach detection and client‑protection controls in light of repeated CBI clone‑firm warnings can drive significant conduct, supervisory and reputational risk, including possible supervisory findings on governance, consumer protection and financial‑crime systems and controls. Firms that ignore such warnings face heightened exposure to client loss events, redress costs and intensive CBI scrutiny of their control environment.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerBroker DealerWealth Manager Warning: Unauthorised Investment Firm / Unauthorised Investment Business Firm Unauthorised Firm Name Euro Bonds Finder/Irish Rates Finder Website https://eurobondsfinder.com/ Authorisation in Ireland Euro Bonds Finder/Irish Rates Finder is not authorised as an investment business firm in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800. For more information on how to protect yourself from financial scams...
The Central Bank of Ireland (CBI) has issued a Warning Notice, under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/investment business firm and confirming it is not authorised in Ireland to provide investment services. This reinforces CBI’s ongoing focus on online “investment” and comparison-style offerings and requires regulated firms, intermediaries and distributors to ensure they do not engage with or refer clients to this entity and that their financial crime and fraud-detection controls recognise and block similar scams.
What Changed
- - The CBI has formally designated Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/unauthorised investment business firm and added it to its public unauthorised firms list...
- The CBI has explicitly confirmed that Euro Bonds Finder/Irish Rates Finder is not authorised as an investment business firm in Ireland and therefore cannot legally provide investment services or...
- The warning clarifies that any dealings with Euro Bonds Finder/Irish Rates Finder fall outside the regulatory perimeter, meaning investors do not benefit from protections such as CBI conduct of...
- The publication reiterates CBI’s standing process for reporting suspected scams, including use of the dedicated phone line and the CBI’s online resources on financial scams, strengthening...
- By treating this firm in the same way as other comparison or “finder” style websites previously flagged by CBI (for example Rates Finder, EU Bonds and similar sites), the warning underscores an...
Suggested Considerations
- Screen all clients, counterparties, introducers, and third-party platforms against the CBI “Search Unauthorised Firms” list and ensure Euro Bonds Finder/Irish Rates Finder is included in internal watchlists and negative lists.
- Update internal fraud, scam, and financial crime typology libraries to include Euro Bonds Finder/Irish Rates Finder and similar bond/rate “finder” or comparison-website investment scams, including indicators such as online forms capturing investor details and subsequent unsolicited calls or emails.
- Instruct relationship managers, advisory staff, and customer service teams not to refer clients to, or accept referrals from, Euro Bonds Finder/Irish Rates Finder and to escalate any client reports of contact with this firm via internal suspicious activity or fraud reporting channels.
- Enhance transaction monitoring and payment screening rules to flag and review attempted transfers to payment accounts or beneficiaries linked to Euro Bonds Finder/Irish Rates Finder or similar unauthorised online investment schemes.
- Review marketing, distribution, and partnerships to ensure no white-labelling, lead-sharing, affiliate, or referral arrangements exist, directly or indirectly, with Euro Bonds Finder/Irish Rates Finder or comparable unauthorised comparison/investment platforms.
Key Dates
– CBI issues a prior warning notice on an analogous unauthorised comparison website, Rates Finder, highlighting the “comparison website scam” model
– CBI issues a warning on EU Bonds, another unauthorised investment firm, further signalling its focus on online bond and rate “finder” scams
– CBI publishes the Warning Notice on Euro Bonds Finder/Irish Rates Finder as an unauthorised investment firm/investment business firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013
Compliance Impact
The compliance impact is high, because dealings with unauthorised firms can expose regulated entities to regulatory enforcement for conduct, financial crime failings, and failures in due diligence on third parties and referrals, in addition to customer detriment and reputational damage. Firms that ignore CBI warnings or fail to adapt their controls to identified scam typologies risk scrutiny in supervisory reviews and potential enforcement action.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerBank Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Compare Bonds Ltd Website http://www.comparebondrates.eu/ Email address used info@bondratecompare.com Authorisation in Ireland Compare Bonds Ltd is not authorised to operate as an investment business firm or investment firm in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or report an unauthorised firm directly to ...
The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 in respect of **Compare Bonds Ltd**, confirming it is **not authorised** to operate as an investment business firm or investment firm in Ireland. This reinforces firms’ obligations to perform robust regulatory status checks on any “comparison” or “bond rate” intermediaries and to strengthen fraud‑prevention controls around introduction, referral and distribution channels.
What Changed
- - The CBI has added Compare Bonds Ltd to its public list of unauthorised firms under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, confirming it is not authorised to operate...
- The warning identifies specific digital identifiers associated with the unauthorised firm, including the website `http://www.comparebondrates.eu/` and the email domain `bondratecompare.com`, which...
- The publication continues the CBI’s recent thematic focus on “comparison website” style investment scams, following earlier warnings on entities such as Bond Rate Compare / Compare Bonds Ltd, EU...
- The notice reiterates that the CBI operates a central reporting channel for unauthorised firms, including a dedicated telephone line and online reporting facility, underscoring expectations that...
- The warning is an enforcement‑related action aimed at investor protection and market integrity, signalling that regulated firms must not treat introductions, leads or referrals from Compare Bonds Ltd...
Suggested Considerations
- Screen all existing and prospective introducers, lead generators, comparison sites and affiliates against the CBI’s unauthorised firms list, and immediately block or off‑board any relationship linked to Compare Bonds Ltd, Bond Rate Compare or the domains and websites identified.
- Update internal fraud‑risk, KYC and onboarding procedures to include explicit checks for CBI unauthorised‑firm warnings for any third party that sources or routes investment or deposit business, especially where “comparison”, “bond”, “EU rates” or similar branding is used.
- Instruct front‑office, sales and relationship‑management staff not to accept introductions, leads or client referrals from Compare Bonds Ltd or any entity using the websites or email domains cited in the CBI warning.
- Enhance transaction‑monitoring and case‑management workflows to flag and investigate payments, transfers or instructions referencing Compare Bonds Ltd, comparebondrates.eu, bondratecompare.com, or similarly branded entities previously named in CBI warnings.
- Review and, where necessary, update customer‑facing scam warnings and disclosures (websites, apps, terms, and client communications) to highlight the risk of “comparison website” investment scams and to direct customers to the CBI’s unauthorised firm register.
Key Dates
– CBI previously issued a warning regarding Bond Rate Compare / Compare Bonds Ltd as an unauthorised investment firm / investment business firm
– CBI publishes the current warning notice confirming Compare Bonds Ltd is an unauthorised firm and disclosing associated website and contact details
Compliance Impact
Failure to identify and disengage from unauthorised comparison‑style entities like Compare Bonds Ltd exposes firms to significant conduct, enforcement and reputational risk, particularly where customers suffer losses via scams linked to the firm’s products or brand. The CBI’s ongoing pattern of warnings indicates elevated supervisory sensitivity to distribution controls, meaning lapses could contribute to findings in conduct or enforcement reviews.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
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BankBroker DealerWealth Manager Today, the High Court published its written judgment in the matter of the Central Bank’s application under the Fitness & Probity Regime to confirm the one-year prohibition issued to a senior executive on 02 February 2022 concerning his role in a regulated firm in the investment fund and asset management sector. The decision of the High Court was to refuse the application. The Central Bank acknowledges the importance of the Court’s findings and the clarity that the judgment provides in this ca...
The Central Bank of Ireland (CBI) issued a statement on 17 April 2026 acknowledging a High Court judgment refusing to confirm a one-year prohibition on a senior executive in the investment fund and asset management sector due to inadequate fair procedures during the CBI's Fitness & Probity (F&P) investigation. This matters for compliance professionals as it underscores the critical need for robust fair procedures in F&P processes and highlights recent legislative and guidance enhancements under the Individual Accountability Framework (IAF) Act 2023 to address such shortcomings. Firms must prioritize these updates to mitigate enforcement risks.
What Changed
- - Legislative enhancements via IAF Act 2023: Introduced changes to strengthen CBI's investigation and prohibition powers under the F&P Regime, including additional safeguards for fair procedures in...
- Updated Regulations and Guidance (April 2023): CBI published revisions reflecting IAF Act changes, focusing on improved investigation and decision-making processes...
- CP-150 Consultation (2025): Led to updated Guidance on consolidated Fitness and Probity Standards, separate from F&P investigations...
- CP-166 Consultation on Supplemental Guidance: Public consultation on prohibitions closed 25 March 2026; final guidance expected summer 2026...
Suggested Considerations
- Review and implement April 2023 updated F&P Regulations and Guidance to ensure investigations and prohibitions incorporate IAF Act fair procedure safeguards (https://www.centralbank.ie/news/article/press-release-central-bank-statement-on-high-court-judgment-17-april-2026).
- Conduct internal audits of F&P processes, focusing on fair procedures (e.g., notice, representation rights) for senior executives in CF/PCF roles.
- Monitor and prepare for summer 2026 final guidance from CP-166 on prohibitions; submit any late feedback if applicable.
- Train compliance and HR teams on heightened procedural standards, referencing High Court emphasis on fair procedures.
- For firms in investment funds/asset management: Assess PCF suitability assessments against consolidated F&P Standards from CP-150.
Compliance Impact
Urgency: High – The High Court ruling directly critiques CBI's past F&P procedures, signaling elevated scrutiny on fair process compliance; failure risks court refusals of prohibitions, reputational damage, and escalated enforcement. With final CP-166 guidance imminent (summer 2026), firms face immediate pressure to align processes, especially post-IAF Act, to avoid similar outcomes in ongoing or future investigations.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
Asset ManagerWealth ManagerHedge Fund Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Pimco Global Wealth / Pimco (Ireland) (Clone) Websites www.pimcoglobalwealth.com www.pimcoprivatewealth.com www.pimcoprivateclients.com www.pimcoglobaladvisors.com Email address used admin@pimcoglobalwealth.com Phone numbers used +353 1 912 8604 +353 1 531 4593 Authorisation in Ireland This firm is not authorised to provide investment services in Ireland. Additional information Pimco Global Wealth / Pimco ...
The Central Bank of Ireland (CBI) issued a warning notice on 17 April 2026 under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying "Pimco Global Wealth / Pimco (Ireland) (Clone)" as an unauthorised investment firm impersonating the legitimate authorised entity Pimco Global Advisors (Ireland) Limited by cloning its name, CRO number, and address. This matters for compliance professionals as it underscores rising cloning scams targeting Irish consumers, requiring firms to enhance client vigilance, scam monitoring, and public communications to mitigate reputational and conduct risks.
What Changed
This is not a regulatory change or new requirement but a specific enforcement warning publicising an unauthorised clone firm operating via listed websites (www.pimcoglobalwealth.com, www.pimcoprivatewealth.com, www.pimcoprivateclients.com, www.pimcoglobaladvisors.com), email (admin@pimcoglobalwealth.com), and Irish phone numbers (+353 1 912 8604, +353 1 531 4593). It reinforces CBI's ongoing use of section 53 powers to name and shame unauthorised entities engaged in deceptive practices, with no new rules but heightened emphasis on consumer deception via firm cloning.
Suggested Considerations
- Verify authorisation: Firms and clients must check CBI's register (www.centralbank.ie) before engaging with any entity claiming to offer investment services.
- Issue internal alerts: Authorised firms should disseminate this warning to staff, clients, and intermediaries via emails, client portals, and websites, emphasising no connection to clones.
- Monitor and report: Screen for the listed websites, emails, and phone numbers in client communications; report suspicious activity to CBI at (01) 224 5800 or via unauthorised firm reporting portal.
- Enhance controls: Implement or update scam detection protocols, including client onboarding checks for impersonation red flags and training on cloning tactics.
- Public disclaimers: Legitimate firms like PIMCO should post fraud warnings, as seen on their site, advising against sharing personal/bank details with unknowns.
Key Dates
- CBI publishes warning notice on Pimco Global Wealth (Clone)
Compliance Impact
Urgency: Medium - Immediate for Pimco-impacted firms due to active deception using Irish contact details, but medium overall as CBI warnings are routine (e.g., multiple Pimco clones in 2024-2026). Matters for conduct risk, client protection, and reputation; failure to act could breach CBI fitness & probity or consumer duty expectations, especially amid rising scams (e.g., Clarus IV ICAV clone on same date).
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
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Good morning. Ongoing events in the Middle East are a stark reminder of the challenges policy makers face in a world increasingly characterised by geoeconomic fragmentation. For central banks tasked with preserving price stability, supply shocks pose both analytical and strategic challenges: understanding their persistence, their impacts on supply chains, and their effects on inflation and growth; and determining how to respond when supply and demand move in opposite directions. My speech tod...
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Good morning and welcome to Central Bank of Ireland. Thank you for joining us for this inaugural gathering of the Savings and Investment Forum. I want to extend a particular welcome to the Tánaiste. Today marks an important milestone. The Department of Finance's 2024 Funds Review recognised the importance of enabling more retail investment in Ireland. It recommended establishing this Forum to address that challenge and today provides a timely opportunity to do so. Let me place this initiative...
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Central Bank of Ireland today launched a commemorative coin celebrating the life and work of renowned Irish playwright Seán O'Casey, on what would have been his 146 th birthday. It marks the 100th anniversary of the inaugural performance of his masterpiece The Plough and the Stars at the Abbey Theatre. The silver proof coin will go on sale today (Monday 30 March 2026) at 1pm on www.collectorcoins.ie . Designed by PJ Lynch, there are just 3,000 coins available, and they will retail at €90. Gov...
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Good morning everyone. It is a pleasure to join you today at the Abbey Theatre. We are here, of course, to launch a commemorative coin to honour Seán O’Casey, one of Ireland’s most important literary figures, and one whose voice continues to resonate profoundly, both in Ireland and internationally. I am delighted to welcome Shivaun O’Casey, Seán O’Casey’s daughter. It is particularly fitting to mark this occasion in her presence. Thank you to the Abbey Theatre for hosting us here today, a pla...
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The Central Bank Commission has appointed Elizabeth Mahon as Secretary of the Central Bank, effective 30 March. Elizabeth has also been appointed to the role of Head of Governance in the Central Bank. Elizabeth has more than 20 years' experience in financial services, principally in the banking sector, where her career has focused on strategy and implementation, management consulting, organisational change, and stakeholder management. Since 2022 she has worked at the Central Bank as Head of S...
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Naperte Designated Activity Company (CLONE) - Central Bank of Ireland issues warning about unauthorised firm
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TD ICAV (CLONES) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Castleforbes Wealth (CLONE)– Central Bank of Ireland issues warning about unauthorised firm
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Renewed surge in international energy prices tests domestic economic resilience Higher oil and gas prices are expected to lead to lower growth and higher inflation than previously expected. The extent is dependent on the duration of the conflict and the scale of damage to critical infrastructure in the Middle East. MDD is forecast to grow by 2.8 per cent per annum on average from 2026 to 2028 in the baseline forecast, with inflation averaging 2.5 per cent per annum over that period. More seve...
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In his latest blog Governor Gabriel Makhlouf explains that the Governing Council held rates steady at 2 per cent due to new geopolitical uncertainty from Middle East tensions, which risk pushing energy prices and headline inflation above the 2 per cent target whilst dampening growth. The Bank will monitor inflation expectations and wage dynamics closely to prevent the energy shock from becoming embedded in persistent above-target inflation, as occurred after the Ukraine crisis.
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Suisse Equity- Central Bank of Ireland Issues Warning on Unauthorised Firm
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Elarem Limited - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Callanor - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Private Client Trustees Limited (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Impax Stocker (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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KPH Advisory Services (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Central Bank of Ireland Issues Warning on Unauthorised Firm – Sugon Ventures
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Earston Limited t/a Earston Wealth Management (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Gabriel Makhlouf, Governor of the Central Bank of Ireland, today delivered a keynote address at the Blavatnik School of Government, outlining the critical role of central bank independence in delivering price stability and supporting economic prosperity for society. Speaking on “Institutions, Anchors, and Their Discontents: The Role of Central Banks”, Governor Makhlouf highlighted how central bank independence, underpinned by clear mandates and robust accountability frameworks, enables moneta...
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Central Bank of Ireland Deputy Governor Vasileios Madouros spoke at Technological University Dublin on the need to increase domestic investment over the next decade to support Ireland’s long-term economic success. Looking back, Deputy Governor Madouros discussed how, despite very strong economic growth, investment in key domestic sectors has been relatively subdued over the past decade. Looking ahead, like many other countries, Ireland is facing profound economic and societal shifts in years ...
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Over the course of the next decade, we will need to allocate more of our collective resources towards domestic investment. 1 In part, that is because of where we are coming from. Despite very strong economic growth in recent years, investment in key domestic sectors has been lacklustre. But it is also because of where are going. Ireland, like many other countries, is facing profound structural transitions. Navigating these will require additional investment in the years ahead. Raising Ireland...
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The Central Bank of Ireland has set out its regulatory and supervisory priorities for 2026 and provided detailed advice to Government on building economic resilience in the face of unprecedented uncertainty. In his letter to the Tánaiste and Minister for Finance Simon Harris, Governor Gabriel Makhlouf set out his views on the macro-financial environment, the financial services landscape and the Central Bank of Ireland’s financial regulation priorities for the year ahead . Governor Makhlouf em...
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In his latest blog, Governor Gabriel Makhlouf explains why the Governing Council kept its main policy interest rate (the deposit facility rate) unchanged at 2% for the fifth consecutive time since June 2025.
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In his latest blog, Governor Gabriel Makhlouf argues that economists must adapt their analytical frameworks and expand their focus beyond traditional topics to address emerging challenges—such as geopolitical upheaval and defence spending—in order to provide robust evidence-based policy advice that serves the public interest.
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Central Bank of Ireland has successfully completed the sale of its Spencer Dock (East Wing) building to the Office of Public Works for €23.7m. The sale of Spencer Dock was a key element of the Central Bank’s longer term property strategy aligned to our decision to develop a single Dockland Campus through the purchase of our North Wall Quay building and subsequent purchase of our Mayor Street building. This sale of the East Wing, to Office of Public Works on 22 January 2026, follows the earlie...
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Alan Finance Group (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Doherty Bergin Financial Services Ltd (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Harbor Valtrix– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Solunar Finance Holdings Limited (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm
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Economics Winter Workshop 2025: Opening Remarks by Governor Gabriel Makhlouf
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In this, his final blog for 2025, Governor Gabriel Makhlouf reflects on Ireland and the euro area’s economic performance and looks ahead to 2026, drawing on the Quarterly Bulletin and latest eurosystem staff projections published this week.
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MDD is projected to grow by just below 4 per cent in 2025. From 2026 to 2028, MDD is forecast to grow at an annual average rate of 2.9 per cent per annum. More positive momentum in MNE investment amid lower uncertainty contrasts with slower pace of growth in domestic sectors and cooling of the labour market as drag from capacity constraints becomes evident. Outlook for slightly higher overall inflation, as underlying services price growth more persistent at a higher rate than pre-pandemic. Th...
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Good evening. Thank you for the invitation to join you today. This evening I want to talk about economic resilience, what it is and whether we have enough of it. I spoke about economic resilience in my first speech as Governor – 6 years ago – and wrote to the Minister for Finance about it in early February this year. After everything that’s happened since February, it feels timely to take stock of where we are. My conclusion is that we need to give it greater focus. Let me start by setting ou...
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Obelisk Wealth - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Good morning and welcome everyone. I am delighted to address the eighth meeting of this Forum. When the Forum was established three years ago, the goal was to bring together participants from across Ireland to build a shared approach to understanding and managing the systemic risks that climate change poses, while supporting the orderly transition of households and businesses to the net zero objective that we’re all familiar with. The Forum has come a long way in those three years. We have es...
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EPC Finance Limited - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Wealthbayy - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Deutsche Bank Wealth Management (CLONE) / Deutsche Bank AG (CLONE) / DB UK Bank Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Rates Finder– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Quilter Cheviot Europe Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Fir
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Barclays Wealth (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm
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Magnum Options - Central Bank of Ireland Issues Warning on Unauthorised Firm
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LSFX Limited/ LightStocksFX- Central Bank of Ireland Issues Warning on Unauthorised Firm
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CFD Trades 24 – Central Bank of Ireland Issues Warning on Unauthorised Firm
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BW Financial Services (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Bemo Investment Firm Ltd (Clone)– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Warning Unauthorised Investment Firm / Unauthorised Investment Business Firm Unauthorised Firm Name Monument Financial Group Website https://monumentfg.com/ Email addresses used admin@monumentfg.com [name].[surname]@monumentfg.com Phone number used +353 81 800 5284 Authorisation in Ireland This firm is not authorised to provide investment services in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or re...
The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying **Monument Financial Group** as an unauthorised firm providing investment services in Ireland without authorisation. This matters for compliance professionals because it underscores the CBI's proactive enforcement against unauthorised activity, heightens scam awareness, and signals risks of consumer harm, regulatory referrals to An Garda Síochána, and potential enforcement against facilitating parties.[https://www.centralbank.ie/news/article/monument-financial-group---central-bank-of-ireland-issues-warning-on-unauthorised-firm]
What Changed
This is not a regulatory change or new requirement but an enforcement action via a warning notice published on 25 August 2025. It publicly names the firm, its website (https://monumentfg.com/), emails (admin@monumentfg.com, [name].[surname]@monumentfg.com), and phone (+353 81 800 5284), confirming it lacks authorisation for investment services in Ireland.
Suggested Considerations
- Immediate verification: Use CBI's authorisation registers and unauthorised firms search tool before any engagement with firms claiming investment services.[https://www.centralbank.ie/regulation/how-we-regulate/authorisation/unauthorised-firms/search-unauthorised-firms]
- Client communications: Advise clients to apply the "SAFE test" (check authorisation, avoid unsolicited offers, etc.) and visit www.centralbank.ie/financialscams for scam protection guidance.
- If engaged: Cease all activity, secure funds, and report to CBI/Gardaí; no compensation protections apply.
Key Dates
- Warning notice published by CBI, adding Monument Financial Group to the unauthorised firms list.[https://www.centralbank.ie/news/article/monument-financial-group---central-bank-of-ireland-issues-warning-on-unauthorised-firm]
Compliance Impact
Urgency: Medium. This matters as part of a pattern of CBI warnings (e.g., Expert Limited on 19 June 2025, RCE Banque on 29 August 2025, DotBig on 01 December 2025), indicating rising unauthorised investment activity and scam risks in Ireland. Authorised firms face indirect liability for poor due diligence, reputational damage, or facilitation charges; consumers risk total fund loss without regulatory protections.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
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Clermont Meridian Trading - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Northern Trust Fund Managers (Ireland) Ltd (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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TD Global Company (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Ackerman & Foster LLP - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Investment Peak - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Beta-Tech - Central Bank of Ireland Issues Warning on Unauthorised Firm
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KPMG Ireland (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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VintageFXsignals - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Pecan Capital MG - Central Bank of Ireland Issues Warning on Unauthorised Firm
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At our meeting yesterday, the ECB’s Governing Council cut our three policy rates by 25 basis points (or, one quarter of a percent). The disinflation process remains on track, allowing us to reduce rates. However, with some components of inflation still too high for comfort – notably, services inflation – I continue to favour a gradual reduction in rates over large moves. As policy rates fall, we should see a reduction in the costs of borrowing for households and firms. We are already seeing s...
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Governor of the Central Bank of Ireland Gabriel Makhlouf today (25 November) addressed the UK Society of Professional Economists annual dinner . Speaking this evening, Governor Makhlouf said: “Europe is at a pivotal moment in its economic development. The tangle of ageing populations with weak productivity growth raise questions about the long-term growth outlook. The need to build economic resilience to both short-term shocks and longer-term transitions become self-evident by the day. Produc...
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The Central Bank of Ireland has today (29 April 2024) announced the introduction of macroprudential measures for Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds. Building on the recent Consultation Paper “Macroprudential measures for GBP Liability Driven Investment funds”, the measures require that GBP-denominated LDI funds authorised in Ireland maintain sufficient resilience to be able to withstand a sudden and adverse shocks to UK interest rates.
The Central Bank of Ireland (CBI) introduced binding macroprudential measures on 29 April 2024 requiring Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds to maintain a minimum **300 basis point yield buffer** to withstand adverse UK interest rate shocks. This regulatory intervention directly addresses systemic risks exposed during the September-October 2022 UK gilt market crisis, where excessive leverage in LDI funds amplified financial stress across markets.
What Changed
- The framework establishes the following core requirements for in-scope GBP-denominated LDI funds:
Yield Buffer Requirement
- Minimum resilience threshold of 300 basis points increase in UK yields
- CBI clarifies this is a minimum floor, not a target; funds may prudently maintain higher buffers
- Assets must be sufficiently liquid under both normal and stressed market conditions
Yield Buffer Composition Rules
- "External assets" or "third-party assets" cannot be included in the yield buffer
Suggested Considerations
- *For Existing Fund Managers (by 29 July 2024):
- *Audit & Classification: Determine whether each fund falls within the regulatory scope by assessing whether the investment strategy matches asset sensitivity to UK interest rates/inflation against pre-defined investor liabilities
- *Yield Buffer Assessment: Calculate current yield buffer position and identify any shortfalls against the 300 bps minimum threshold
- *Portfolio Restructuring: If necessary, rebalance portfolios to achieve and maintain the 300 bps yield buffer, ensuring:
- Removal of external/third-party assets from buffer calculations
Key Dates
- CBI announces finalised macroprudential framework
- Compliance deadline for existing Irish GBP-denominated LDI funds authorised before 29 April 2024 (3-month implementation period)
- Compliance requirement for newly authorised LDI funds after 29 April 2024
- New funds seeking authorisation must notify CBI of framework scope applicability
Compliance Impact
Urgency Rating: HIGH
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
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It has come to the attention of the Central Bank that a scam entity by the name SEI Investment (United States, Ireland), formerly operating the fraudulent clone website www.seiinvestment.com, has been claiming to be an investment firm / investment business firm in the absence of appropriate authorisations. In this instance, the scam entity cloned details and website content of the legitimate firm, SEI Investments (www.seic.com), in order to deceive consumers. The legitimate firm was proactive...
The Central Bank of Ireland (CBI) issued a warning on 26 September 2022 about a fraudulent entity named "SEI Investment (United States, Ireland)" that cloned the legitimate authorised firm SEI Investments (www.seic.com) via the fake website www.seiinvestment.com to deceive consumers into unauthorised investment services. This matters because it highlights the rising threat of clone firm scams, which impersonate authorised entities using stolen details like names, addresses, and authorisation numbers, exposing firms to reputational risk and consumers to financial loss without Investor Compensation Scheme protection. Authorised firms must remain vigilant in monitoring for clones and reporting them promptly, as demonstrated by SEI Investments' proactive response that led to the site's deactivation in February 2022.
What Changed
This is not a regulatory change or new requirement but a public enforcement warning under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013, emphasising ongoing enforcement against unauthorised firms providing regulated financial services, which is a criminal offence. It reinforces consumer protection guidance without introducing new rules, but signals CBI's heightened focus on clone firm frauds, as seen in similar warnings (e.g., The Capital Holdings clone, Bank of Ireland clones).
Suggested Considerations
- Monitor for clones: Regularly search for impersonations of your firm's name, website, authorisation numbers, LEI, CRO, or address; report suspicions to CBI at (01) 224 4000.
- Client communications: Advise clients to always access CBI Register directly from www.centralbank.ie (not via email/website links), double-check URLs/phone numbers, verify products on legitimate sites, and apply the SAFE test for unsolicited contacts.
- Internal processes: Update fraud awareness training, client onboarding checks, and surveillance for clone activity; emulate SEI Investments by proactively notifying authorities.
- Public reporting: Encourage staff/clients to report unauthorised activity via CBI hotline or Search Unauthorised Firms page.
Key Dates
- Fraudulent clone website www.seiinvestment.com deactivated following legitimate firm's report
- CBI issues warning notice on SEI Investment clone
Compliance Impact
Urgency: Medium – Not critical as the specific clone site was deactivated in 2022, but medium due to persistent clone fraud trend evidenced by ongoing CBI warnings into 2026 (e.g., BW Financial Services clone in August 2025, Stalwart Investments clone in March 2026). Matters for authorised firms as it underscores reputational, operational resilience, and consumer protection obligations under CBI's supervisory framework; unaddressed clones can lead to client complaints, enforcement scrutiny, or compensation claims if mis-sold products are linked back erroneously.
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original CBI source
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Asset ManagerWealth ManagerBank I am joined today by Gráinne McEvoy, Director of Consumer Protection, and Domhnall Cullinan, Director of Insurance Supervision. Thank you for this opportunity to speak to you today about the Central Bank’s work in regulating and supervising the Irish insurance industry and specifically the practices of differential pricing and dual pricing. Insurance serves a critical role in the functioning of a modern society, through reducing uncertainty by protecting people and businesses against the risk...
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Settlement Agreement between the Central Bank of Ireland and Merrion Stockbrokers Limited Merrion Stockbrokers Limited fined €200,000 by the Central Bank of Ireland in respect of failings pursuant to the Fitness and Probity regime. On 12 December 2017, the Central Bank of Ireland (the ‘Central Bank’) fined Merrion Stockbrokers Limited (‘Merrion’) €200,000 and reprimanded it for a breach of section 21 of the Central Bank Reform Act 2010 (the ‘2010 Act’). Merrion has admitted this breach, which...
The Central Bank of Ireland (CBI) fined Merrion Stockbrokers Limited €200,000 on 12 December 2017 for breaching section 21 of the Central Bank Reform Act 2010 by failing to implement adequate systems and controls under the Fitness and Probity (F&P) regime from 1 December 2011 to at least April 2015. This first-ever enforcement action against a firm for section 21 violations underscores firms' primary responsibility for ongoing due diligence on Controlled Functions (CFs) and Pre-Approval Controlled Functions (PCFs), signaling heightened CBI scrutiny on governance and accountability post-financial crisis.
What Changed
- This 2017 enforcement does not introduce new regulatory changes but enforces existing requirements under the F&P regime, established via the Central Bank Reform Act 2010 and effective from 1 December...
- Firms must maintain adequate systems and procedures for initial and ongoing due diligence to ensure CFs/PCFs meet F&P Standards (fitness: competence, integrity; probity: honesty).
- Ongoing monitoring beyond initial checks, with written records and centralized documentation for each individual.
- Accurate classification of roles as CFs/PCFs; failure here constituted a breach.
No subsequent statutory changes are noted in the publication, but it reinforces that firms bear ultimate...
Suggested Considerations
- Develop/improve written policies and procedures for initial and ongoing due diligence on CFs/PCFs, including centralized records per individual.
- Conduct thorough due diligence at appointment and continuously monitor compliance with F&P Standards; maintain demonstrable records.
- Ensure accurate CF/PCF classification for all relevant roles (e.g., executive directors, finance heads, client advisors).
- Implement monitoring systems to detect changes in fitness/probity and report to CBI if Standards are breached.
- Board-level oversight: Review and remediate gaps, as post-2016 Merrion Board did.
Key Dates
- Fitness and Probity regime effective; Merrion's breach period begins
- Management buy-out and new Board appointed; initial compliance improvements start
- Merrion implements first written F&P policies and procedures
- CBI inspection identifies breaches
- CBI imposes €200,000 fine and reprimand via settlement agreement; investigation closed
Compliance Impact
Urgency: Medium - While from 2017, this foundational enforcement remains highly relevant for ongoing F&P obligations, with risks of fines/reprimands during CBI inspections (as in Merrion's 2016 review). It matters because firms hold primary accountability for a regime designed post-crisis to prevent unfit individuals in key roles; non-compliance exposes entities to significant reputational, financial (€200k precedent), and operational risks, especially amid evolving governance scrutiny.
AI-generated analysis. May contain errors or omissions — verify with the
original CBI source
before acting. Full disclaimer.
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