The Bank of Portugal issued new alerts about three distinct cases of entities and people who, according to the supervisor, are not authorized to carry out financial activities reserved for authorized institutions in Portugal. At issue are two names associated with the provision of payment services, including sending funds, and also an entity linked to granting credit, intermediation and consultancy.
The notices were released on April 17th and involve Daniel Cassule Neto, Jaime Alberto Chissico and the entity “FIDUCIA CREDITO”, which, according to Banco do Portugal, do not have authorization to carry out these activities in the country.
In the case of the first two, the supervisor clarifies that, whether they act in their own name or on behalf of third parties, they are not authorized to provide payment services in national territory. These services include, for example, sending resources, an activity reserved for legally authorized entities.
Two warnings about payment services
According to Banco de Portugal, with NIF 324301405, you are not authorized to carry out financial activity subject to the supervision of the institution, particularly with regard to the provision of payment services.
The same notice was issued in relation to , with NIF 298394758. Also in this case, the supervisor says that there is no authorization to carry out, in Portugal, activities linked to payment services, including transfers or sending money.
Banco de Portugal reminds you that the payment services provided for in the Legal Framework for Payment Services and Electronic Money are reserved, in Portugal, for entities duly authorized for this purpose.
Case also involves credit activity
In addition to these two alerts, the supervisor also left a warning about the entity “”, which, according to him, has been operating through the website identified by Banco de Portugal.
In this case, the alert goes further. The institution indicates that this entity is not authorized to carry out any reserved financial activity in Portugal, namely the granting of credit, credit intermediation and the provision of consultancy services in relation to credit contracts.
These are particularly sensitive areas of the financial sector, as they are subject to their own rules and can only be developed by legally authorized and supervised entities.
Banco de Portugal reminds rules and asks for verification
The supervisor emphasizes that the granting of credit is reserved for entities qualified under the law, as is the case with credit intermediation and consultancy services associated with credit contracts.
For this reason, Banco de Portugal recommends consulting official lists of authorized entities before any contact, contracting or delivery of money. These records make it possible to confirm whether an institution, company or intermediary is legally able to operate in Portugal.
The institution also warns of another situation that has come to its attention: the misuse of the name of authorized entities by third parties in fraudulent schemes. In other words, even when a name seems legitimate, it may be being used abusively.
When in doubt, Banco de Portugal advises citizens to always confirm the identity of the entity and its authorization before proceeding with any financial transaction. The new alerts thus reinforce the need for prudence in a context in which attempts to act outside the rules imposed on financial activity in Portugal continue to emerge.
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