They have warned consumers to be vigilant…
The Central Bank have warned consumers to be wary of financial fraudsters after they discovered that a firm has been operating as a payment institution in the state without authorisation.
They found that a firm, calling itself Baradero Global Transfer Limited (www.baraderoglotrans.tk), has been operating as a payment institution and/or as a money transmission business in the State in the absence of an appropriate authorisation.
This unauthorised firm has cloned the details [part of the name (Baradero) and Irish registered address] of a company called Baradero Limited, which is a company registered with the Irish Companies Registration Office (‘CRO’) and which does not deal in financial services the Central Bank said in a statement.
“It should be noted that there is no connection whatsoever between Baradero Limited, which is a company registered with the CRO and the unauthorised entity Baradero Global Transfer Limited (www.baraderoglotrans.tk) that has cloned its details,” the statement read.
In a bid to prevent people being caught out by this illegitimate firm, the Central bank issued the following advice.
- Fraudsters are increasingly using legitimate firms’ details to add an air of legitimacy to their fraud.
- The fraudsters will ‘borrow’ all of the legitimate information of an authorised/legitimate firm for the purpose of this fraud.
- They may quote authorisation numbers/company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorised/legitimate firm.
- Consumers are advised to check the Central Bank’s register to verify a firm’s details and to call the firm back directly using its advertised phone number.
The Central bank also warned that if consumers deal with a firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.
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