Oristan Ireland Designated Activity Company (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

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 published its details on the CBI warning list.
• 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 registration number of the legitimate Oristan Ireland DAC.
• The warning enumerates specific fraud infrastructure used by the clone: four domains (including “oristanirelanddac.com”, “oristan-ire.com” and “oristanportal.com”), multiple email addresses impersonating staff, and several Dublin phone numbers.
• 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.
• The CBI reiterates its standing expectations that firms and consumers consult the CBI registers and warning list and use CBI guidance on financial scams before dealing with firms claiming to be authorised.

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.
• Review and, where necessary, renegotiate distribution, referral and introducer agreements to include specific clauses requiring verification of regulatory status, prohibition on using clone brands, and prompt notification if the counterparty appears on a regulatory warning list.

Key Dates

Who is Affected