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Central Bank issues warning to 4 unauthorised firms offering loans

The Central Bank also issued a warning notice to an unauthorised investment firm.

Image: Shutterstock/Blue Planet Studio

THE CENTRAL BANK of Ireland has published warning notices against four unauthorised firms offering loans to people.

These firms are:

  • Ireland Loans 
  • Loan Society 
  • Liteway Loans 
  • Yes Loans Ireland.

The Central Bank confirmed to TheJournal.ie this week that Liteway Loans is not authorised with them.

A warning notice was also issued by the Central Bank to the unauthorised Investment Firm/Investment Business Firm ‘Barons VC’. 

It’s a criminal offence for an unauthorised firm to provide financial services in Ireland that would require Central Bank authorisation.

Consumers should be aware, that if they deal with a firm that is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.

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If you want to contact the Central Bank with information about similar firms, you can call: 01 224 4000. This line is also available to the public to check if a firm is authorised.

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