Press Releases

Warning on Unauthorised Firm

19 February 2019 Press Release

Warning

It has recently come to the Central Bank of Ireland’s (‘Central Bank’) attention that a firm calling itself Insight Managed Funds (United Kingdom) - https://insightmanagedfunds.com (website no longer available), which is not authorised as an investment firm by the Central Bank, cloned the name of a Central Bank authorised firm called Insight Liquidity Funds plc in a regulatory disclosure statement which was contained on the https://insightmanagedfunds.com website.

It should be noted that there is no connection whatsoever between the Central Bank authorised firm Insight Liquidity Funds plc and the unauthorised entity, Insight Managed Funds, which operated the website https://insightmanagedfunds.com.

It is a criminal offence for an unauthorised firm to provide financial services in and from Ireland that would require an authorisation under the relevant legislation for 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 the Investor Compensation Scheme.

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 our register to verify a firm’s details and to call the firm back directly using its advertised phone number.

For further information, please visit the Avoiding Scams and Unauthorised Activity section of the Central Bank’s website.

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