Central Bank of Ireland Issues Warning on Unauthorised Firm –
Fraudulent entity clones authorised firm Deutsche Bank AG Dublin Branch and formerly authorised firm Deutsche International Corporate Services (Ireland) Limited
10 February 2023
Warning Notice
10 February 2023
[Updated 10 November 2023]
It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that fraudulent entities, using variations of Deutsche Bank legal entities names, such as, Deutsche Bank International Corporate Services (Ireland) Limited, have been claiming to be an investment firm / investment business firm in the State in the absence of appropriate authorisation. In this instance, in order to deceive consumers, the fraudulent entities cloned the information from legitimate Deutsche Bank firm’s. It would appear that the fraudulent entities contact consumers following on from a consumer accessing websites, e.g. www.invest-ireland.org, and expressing an interest in investing. The fraudulent entities contact the consumer via email and/or phone seeking to sell fake bonds by sending fake prospectus’s: “Deutsche Bank – Fixed Term Bond / Fixed Income / Fixed Rate Bond” and “Government Treasury Bonds”. Examples of contact information used by these scam entities include:
- the email addresses:
This unauthorised firm has cloned the name, address (postal and website) and CRO number of a legitimate company: Deutsche International Corporate Services (Ireland) Limited, which was formerly authorised by the Central Bank. This unauthorised firm also cloned other Deutsche Bank AG information for the purposes of this fraud.
It should be noted that the legitimate company “Deutsche International Corporate Services (Ireland) Limited” is not offering any banking or other services as it is no longer regulated. Furthermore, there is no connection whatsoever between the legitimate company and this unauthorised firm.
It should also be noted that “Deutsche Bank AG” operating in Ireland on a Branch basis is not offering any banking or investment products to any consumers. Furthermore, there is no connection whatsoever between Deutsche Bank AG or its Dublin Branch and this unauthorised firm.
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 for which the Central Bank is the responsible body for enforcing. Consumers should be aware, that if they deal with an entity that is not authorised, they are not eligible for compensation from any available Compensation Scheme.
Fraudsters are increasingly using legitimate firms’ details to add an air of legitimacy to their fraud. The fraudsters will 'borrow' some or 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. Always access the register from our website, rather than through links in emails or on a firm’s / person’s website.
There are some further steps that individuals should take before dealing with firms / persons which purport to offer financial services:
- Always double-check the URL and contact details of a firm / person in case it is a ‘clone firm / person’ pretending to be an authorised firm / person, such as your bank or a genuine investment firm.
- Check the list of unauthorised firms. If the firm / person is not on our list, do not assume it is legitimate – it may not have been reported to the Central Bank yet.
- Check that the product being offered to you is present on the website of the legitimate firm.
- If you are considering buying a financial product or dealing with a firm, through a website or social media, or if you receive an unsolicited phone call, email, text message or pop-up box out of the blue, take the SAFE test.
- For further information, please visit the Avoiding Scams and Unauthorised Activity section of the Central Bank’s website.
Please remember:
- the Central Bank will never contact you asking for money, your personal data or your PPS number; and
- if you are offered something that seems too good to be true, it is most likely a scam.
Any person wishing to contact the Central Bank 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.
Ends
Notes to editors
The name of the above firm is published under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013.