A new alert has arrived from Banco de Portugal aimed at consumers regarding the existence of entities that present themselves as financial institutions, but which are not legally qualified to grant credit. In a statement released this Wednesday, the supervisor identified the names “Vantex Finance”, “BVF Banco Vantex Financial” and “Vantex Financial” as examples of companies that are not authorized to carry out credit granting activities in Portugal.
According to Banco de Portugal, these entities are neither registered nor authorized to carry out any type of financial operation subject to their supervision. In addition to not being able to grant loans, they also cannot carry out other activities reserved for duly licensed financial institutions, such as receiving deposits, credit intermediation or managing funds.
What the Bank of Portugal says
According to , “the activity of granting credit, provided for in paragraph b) of paragraph 1 of article 4 of the General Regime of Credit Institutions and Financial Companies, is reserved to entities legally qualified for the purpose, in accordance with the provisions of article 10 of the aforementioned legal regime”. In other words, only banks, credit institutions and registered financial companies can carry out this type of operations.
Banco de Portugal also emphasizes that any entity that operates outside this legal framework is acting illegally. And it warns consumers to pay attention to websites, advertisements or contacts that promise quick credit without requiring verification of the customer’s financial capacity: a practice that often hides attempts to scam or capture personal data.
How to confirm if an entity is authorized
To avoid risks, Banco de Portugal recommends that anyone wishing to take out credit consult the list of institutions authorized to carry out financial activities in Portugal in advance. This information is available on the official Banco de Portugal portal, where it is possible to search by business name, registration number or type of institution.
According to the supervisor, this verification is simple and can prevent fraud situations, especially in the case of entities that use names similar to legitimate banks or that present themselves with names in English to inspire trust.
Risk of fraud and loss of personal data
In recent years, Banco de Portugal has increased public warnings about fake or unregistered entities operating online. These companies usually promise very favorable credit conditions and immediate approval, but in practice they serve to collect personal data, account numbers or even initial transfers that are never returned.
The supervisor reminds that legitimate financial institutions never require the payment of fees in advance to approve a credit and that any official communication must always include the registration number with Banco de Portugal. According to the same source, those that do not present it should immediately be considered suspects.
Enhanced supervision and call for vigilance
The actions of these illegal entities are of concern to Banco de Portugal, which has been reinforcing its surveillance of the digital financial market. The ease with which new companies can create websites and advertise fast credit makes the environment conducive to fraud, especially among consumers in a vulnerable economic situation.
Therefore, the Portuguese central bank reiterates that any citizen who suspects irregular activity must report the case to the competent authorities or directly to the Bank of Portugal, using the form available on its official website.
In summary
The warning is clear: “Vantex Finance”, “BVF Banco Vantex Financial” and “Vantex Financial” cannot grant credit or carry out any financial activity in Portugal. Banco de Portugal recommends that all consumers always confirm the legitimacy of institutions before contracting any financial service, in order to avoid fraud and loss of money.
The supervisor’s message is once again simple, but essential: if the promise seems too good to be true, be suspicious, and always check with Banco de Portugal first.
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