Warning issued on Unauthorised Firm - EUFAIRBANK (India)

The Central Bank of Ireland (‘Central Bank’) today (20 April 2018) published the name of an unauthorised firm, EUFAIRBANK (India).  EUFAIRBANK (India) is not authorised by the Central Bank to carry out banking business or to provide any other financial services.

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

It is a criminal offence for an unauthorised firm 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 aware that, if they deal with a firm which is not authorised, they are not eligible for compensation from any statutory Compensation Schemes.

Any person wishing to contact the Central Bank of Ireland with information regarding such firms 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 312 unauthorised firms have been published by the Central Bank.