Licensed persons/institutions can provide financial services
JULY 30, 2004

The Malta Financial Services Authority (MFSA) reminds the public that only licensed persons and institutions are authorised to provide financial services and give investment advice. A list of licensed entities can be viewed on the MFSA website at The public can also verify whether a person or an institution is authorised by calling MFSA on number 800 74924 or by requesting for a list of licensed institutions to be sent to them by post.

The Authority is aware that, for the past year, a foreign national has been offering to arrange loans of large sums. A number of Maltese individuals are helping this foreign national to make contact with potential borrowers. The potential borrowers may be asked to make down payments running into hundreds or thousands of liri on account of various administration costs and for other reasons.

The Police is currently prosecuting a person involved in offering these loan arrangements which have occasioned financial loss to Maltese borrowers. In these cases, the promised loan did not materialise, and the down payments were not refunded.

Nevertheless, the MFSA is informed that similar loan deals are still being offered and promoted. The public is therefore asked to be very cautious of schemes that offer easy access to money, and to seek advise from licensed financial intermediaries before signing any documents or making any payments.