Banco de Portugal (BDP) issued a warning related to the irregular activity of a financial entity present on the internet. It is the entity identified as “monesia”, which provides services through the web addresses “https://banco.monesia.pt/” e “https://monesia.pt/ “. According to the supervisor, this entity is not allowed to provide financial services in Portuguese territory.
Entity not authorized by the BDP
According to the official statement issued by Banco de Portugal, this entity is not qualified to perform financial activities that require prior authorization.
These include reception of deposits, granting credit and other financial operations subject to the supervision of the regulator.
“The entity is not qualified to perform, in Portugal, the activities of reception of deposits and granting of credit or any other financial activity reserved to institutions subject to supervision of Banco de Portugal,” explains the BDP.
Applicable Legal Framework
Banco de Portugal recalls that such activities are regulated by the general regime of credit institutions and financial companies, according to Decree-Law No. 298/92 of 31 December.
We recommend:
This legal framework states that only the institutions duly authorized by the regulator can carry out the mentioned activities, according to article 10 of that diploma.
“The activity of reception of deposits and the activity of granting credit, respectively, in paragraphs a) of Article 4 (1) of the General Regime of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92, of 31 December, are reserved to the entities legally qualified for this purpose, as provided for in Article 10 of the said legal regime” Portugal.
Consumer Recommendations
Banco de Portugal advises consumers to adopt a prudent attitude and always verify if the financial entities with which they intend to perform operations are properly authorized.
For this, it is recommended to consult the official list of authorized financial institutions, available on the regulator’s website.
Also read:
