Central Bank of Ireland Issues Warning on Unauthorised Firm Simple Money (Switzerland)

The Central Bank of Ireland (‘Central Bank’) today (01 March 2017) published the name of an unauthorised firm, Simple Money (Switzerland). Simple Money (Switzerland) is not authorised as a retail credit firm or as a debt management firm by the Central Bank. The firm has advertised its services on the www.simplemoney-uk.com website.

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

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

Any person wishing to contact the Central Bank of Ireland with information regarding such firms/persons may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised. Since obtaining the necessary legal powers in August 1998, the names of 291 unauthorised firms have been published by the Central Bank.

Note

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