Banco de Portugal has released a new warning that should draw the attention of all consumers. The bank supervisor has again stressed that the credit granting activity is reserved only to duly authorized institutions, and that there are cases where this rule has not been respected.
According to the entity, new situations of financial services have recently emerged without any legal qualification. The warning covers two distinct entities, both with digital presence, which are presented with the public as potential credit grants.
Warning to consumers and companies
Banco de Portugal recalls that any credit operation can only be carried out by licensed and supervised financial institutions. This obligation is consecrated in, approved by Decree-Law No. 298/92. The goal, according to the supervisor, is to protect customers and ensure transparency in the financial system.
The regulator also emphasizes that citizens should always confirm the legitimacy of companies before advancing with any contract or money transfer. The official list of authorized entities is available on the Banco de Portugal website and is updated regularly.
ENTITIES AGE
According to the statement, one of the entities acts with the designation “Agra Finance”, through the address finanxiagra.com. The other operates using the universefinancas.com/en page and an associated profile on the social network Facebook. None of them are qualified to perform financial activities in the national territory.
Banco de Portugal stresses that these companies are not allowed to grant credit or perform any other service that is reserved to regulated institutions.
Fines applied by the regulator
The warning was published in the same period when the institution revealed to have applied fines of more than 1.8 million euros in the second quarter of this year. In total, five offenses were established and 61 completed, covering infractions ranging from illicit financial activity to prudential and behavioral failures.
According to Banco de Portugal, the global value of fines reached 1.885 million euros, although part was suspended in execution.
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