The National Bank of Hungary (MNB) today said it had banned the U.K.-based Goldsten Limited with immediate effect from collecting deposits or other repayable financial assets without a licence, according to Hungarian news agency MTI.
The company has promised its clients unrealistically high yields and a guarantee on principal.
The MNB has launched the investigation to establish whether the company collects deposits or other financial assets on a business basis, something that requires permission from the MNB under the law.
The MNB has also filed a criminal complaint on the matter.
Goldsten Limited has no licence to perform such activities in Hungary.
The MNB said it had already issued a warning earlier to consumers on the matter.