Banco de Portugal has again launched public notices about entities that are not allowed to operate in the domestic market. Among the names pointed out are FNBC Invest, Lda., Which also presents under the brand “Seven Bank”, and a particular identified as Ignatius Bandeira de Costa.
According to the bank supervisor, FNBC Invest is not able to develop any financial activity reserved for authorized institutions. The company has resorted to websites such as FNBC.pt, FNBCinvest.com and SevenBank.pt, but can not receive deposits, grant credit or provide payment services in Portuguese territory.
What is at stake
Banco de Portugal recalls that only duly authorized entities can perform operations such as receiving deposits, credit granting or electronic payment services. According to the same source, these activities are regulated by law and the official list of license institutions can be consulted on the entity’s website.
In a second note, the supervisor also warns that Inácio Bandeira de Costa, identified by NIF 195461215, is also not allowed to provide financial services. Warning explains that this individual has been promoting payment services, including the submission of funds, something that is reserved exclusively to recognized institutions.
More cases in the same week
The week was still marked by other alerts. On Tuesday, Banco de Portugal had already drawn attention to two distinct entities: the “Agra Finance”, with activity on the Finanxiagra.com website, and another that presents itself through the address univeofinancas.com/en and a Facebook page.
According to the institution, both are not qualified to grant credit or exercise any other financial activity subject to the supervision of the regulator. Banco de Portugal recalls that the granting of credit is defined by law and can only be carried out by officially registered entities.
How to confirm legality
To avoid risks, the supervisor recommends that consumers always check the list of authorized institutions before accepting any proposal. This list can be consulted on the official portal of Banco de Portugal and is updated regularly.
According to the regulator, these warnings are a way to protect citizens and companies from potential schemes that, at first glance, may seem legitimate. The fact that an entity presents online pages with professional aspect does not mean that it has permission to operate.
Consumer protection
The alerts issued reinforce the need for caution. Banco de Portugal, which, in addition to always confirming the legality of those who offer credit or payment services, customers must be suspicious of proposals too easy or with unfast conditions. Only then is it possible to avoid falling into situations that can endanger your money.
Also read:
