Warning Investors RBS Asset Management (Dublin) Limited (Clone) – Regarding an unauthorized entity has fraudulently replicated the name, logo, and registered address of the legitimate company RBS Asset Management (Dublin) Limited, authorized by the Central Bank of Ireland, with no affiliation to the authorized entity.
In your quest for a dependable investment firm in Ireland, you may have crossed paths with RBS Asset Management (Dublin) Limited. But, before you take the plunge and invest your hard-earned money, it’s crucial to understand that things are not what they seem. In reality, RBS Asset Management (Dublin) Limited is a fraudulent clone scam masquerading as a legitimate Central Bank-authorized entity. This blog post will delve into the intricate details of this scam, offering insights on how to spot it and what to do if you’ve fallen victim to it.
Regulation and Compliance:
It is essential to begin with the realization that RBS Asset Management (Dublin) Limited lacks the necessary authorization from the Central Bank of Ireland to function as an investment firm or business entity in the State. This glaring omission means that they are not held to the regulatory standards and protective measures that authorized firms must adhere to, including capital adequacy, business conduct rules, client asset protection, and compensation schemes.
Adding to the gravity of the situation, this scam has shamelessly cloned a legitimate Central Bank-authorized firm, also bearing the name RBS Asset Management (Dublin) Limited. This reprehensible practice involves duplicating the authorized firm’s name, logo, address, and other details to hoodwink unsuspecting customers into believing they are dealing with a genuine entity. In response, the Central Bank of Ireland issued a warning notice on September 11, 2023, urging consumers to steer clear of any contact with this fraudulent clone.
Customer Support and Customer Reviews:
Predictably, customer reviews of this clone scam are overwhelmingly negative, echoing tales of financial losses and withdrawal restrictions for those who invested. Some unfortunate customers have even shared stories of relentless harassment through incessant phone calls and emails, demanding additional payments or personal information. Here are a few harrowing accounts:
– “I committed €10,000 to RBS Asset Management (Dublin) Limited after receiving an email touting a high-interest, fixed-rate term deposit. They sent me an impressive prospectus and contract that seemed entirely convincing. However, when I attempted to withdraw my funds after the maturity date, they inexplicably insisted on additional fees and taxes not mentioned in our initial agreement. They also stopped responding to my calls and emails. I came to the painful realization that I’d been scammed, but it was too late.”
– “A call from RBS Asset Management (Dublin) Limited offering a guaranteed return on a fixed-rate treasury bond piqued my interest. They claimed an affiliation with the Royal Bank of Scotland and the Central Bank of Ireland, which lent them credibility. They requested my personal details and bank account information. To add to the deception, they provided a link to their website, an uncanny replica of the genuine RBS website. I decided to invest €5,000 with them. Yet, after transferring the funds, they vanished into thin air, leaving me without any confirmation or documentation. A call to the Central Bank of Ireland revealed their lack of authorization or regulation.”
– “An email from RBS Asset Management (Dublin) Limited offering a free consultation on their investment products piqued my curiosity. They portrayed themselves as a reputable, authorized firm with over two decades of market experience, even providing testimonials from satisfied customers. Their professional-looking website, sporting the same logo and address as the authentic RBS Asset Management (Dublin) Limited, further reinforced the facade. I filled out a form on their website to learn more, but the moment I hit ‘submit,’ I was bombarded with spam emails urging me to invest urgently. They began incessantly calling me, applying pressure to make a swift decision. My unease grew, and some online research confirmed my suspicions; they were a clone scam.”
Products and Services:
The products and services peddled by this clone scam are pure fiction. They dangle the allure of high-yield, low-risk fixed-rate term deposits and fixed-rate treasury bonds to lure unsuspecting investors. However, these offerings serve as mere bait to coax customers into transferring their funds. Once in possession of the money, they mysteriously vanish or demand additional fees and taxes that were never disclosed upfront.
Furthermore, the prospectuses and contracts provided to customers are counterfeit and fail to meet the legal requirements for investment products in Ireland. This fraudulent operation relies on the name, logo, and address of the legitimate RBS Asset Management (Dublin) Limited to create a false façade of credibility and legitimacy.
The exact location of this clone scam remains elusive, likely offshore. They employ an array of websites, email addresses, and phone numbers for communication, but none of these can be traced or verified in Ireland or any other jurisdiction.
The websites in use include:
Email addresses adopted by the scammers are:
As for phone numbers, they employ:
– +353 1 906 8530
– +353 1 906 8531
– +353 1 906 8532
– +353 1 906 8533
The customer service of this clone scam falls short, verging on nonexistent or deeply inadequate. They offer no assistance or support to investors or customers with inquiries or complaints. Instead, they either ignore or block calls and emails, or resort to threats, falsehoods, and excuses in their responses.
It’s also worth noting that they lack a physical presence or office in Ireland or any other location. There are no registration numbers, license numbers, or tax identification details that can be verified by authorities or the general public.
In summary, RBS Asset Management (Dublin) Limited is an unscrupulous clone scam that preys on unsuspecting customers by impersonating a genuine Central Bank-authorized firm and offering fictitious products and services. They lack the vital authorization or regulation from the Central Bank of Ireland or any other competent authority. There are no genuine ties to the Royal Bank of Scotland or the authentic RBS Asset Management (Dublin) Limited. In their dishonest pursuit, they deploy forged documents and misleading information to deceive customers into entrusting them with their funds.
If you’ve had any interaction with this clone scam, it’s imperative to cease all communication and report them to the Central Bank of Ireland and the Gardaí. If you’ve already invested with them, contact your bank immediately in an attempt to recover your funds. Seek legal counsel and guidance from a reputable solicitor or financial adviser.
Stay vigilant, as Ireland and other locales harbor similar clone scams, each operating under different names and details to deceive potential investors. Always verify the legitimacy and trustworthiness of an investment firm or product before committing your resources. You can rely on the Central Bank of Ireland’s registers of authorized firms and their warning notices to confirm a firm’s legitimacy. Always remember the age-old adage: If it sounds too good to be true, it probably is.