Press Releases

Warning on Unauthorised Firm

05 November 2018 Press Release

Warning

It has recently come to the Central Bank of Ireland’s (‘Central Bank’) attention that a firm, calling itself Red Arc Global Investments PLC (Ireland and United Kingdom) - https://www.redarcglobal.co.uk/ and https://www.redarcglobal.com / has been operating as an investment firm/investment business firm, in the State in the absence of an appropriate authorisation. This unauthorised firm has cloned the details (name, Central Bank authorisation number and previous registered address) of a Central Bank authorised firm called Red Arc Global Investments (Ireland) plc.

It should be noted that there is no connection whatsoever between the Central Bank authorised firm Red Arc Global Investments (Ireland) plc and the unauthorised entity that has cloned its details. 

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.

See Also:

Press Release Archive