The Bank of Portugal (BdP) issued two new warnings on Friday regarding entities unauthorized to conduct business in Portugal. The entities in question are FNBC Invest, Lda., operating under its own name or as ‘Seven Bank’, and Inácio Bandeira de Costa.
“The Bank of Portugal warns that FNBC Invest, Lda., operating under its own name or as ‘Seven Bank’, particularly through the websites https://fnbc.pt/, https://fnbcinvest.com/ and https://sevenbank.pt/, is not authorized to conduct any financial activities reserved for institutions under the supervision of the Bank of Portugal in Portugal, specifically accepting deposits or other repayable funds, granting credit, and providing payment services,” the official statement from the supervisor reads.
Furthermore, the Bank of Portugal reiterates that such activities are reserved for institutions authorized to perform them:
“The activities of accepting deposits and other repayable funds, granting credit, and providing payment services, as outlined in paragraphs a), b), and c) of section 1 of article 4 of the General Scheme of Credit Institutions and Financial Companies (approved by Decree-Law No. 298/92, dated December 31) (RGICSF), and in article 4 of the Legal Framework for Payment Services and Electronic Money, approved by Decree-Law No. 91/2018, dated November 12 (RJSPME), are reserved for entities authorized to perform them, as stated in articles 8 and 10 of the RGICSF, and article 11 of the RJSPME,” the statement continues.
The banking supervisor also points out that “the lists of entities authorized to accept deposits and other repayable funds, grant credit, and provide payment services can be consulted on the Bank of Portugal’s website at www.bportugal.pt”.
In another statement, the BdP “warns that Inácio Bandeira de Costa (NIF 195461215), acting in his own name or on behalf of third parties, is not authorized to conduct, in Portugal, financial activities reserved for institutions under the supervision of the Bank of Portugal, especially providing payment services, including the transfer of funds”.
“The provision of payment services outlined in article 4 of the Legal Framework for Payment Services and Electronic Money, approved by Decree-Law No. 91/2018, dated November 12, is reserved in Portugal for entities authorized for this purpose, as per article 11 of the same legal framework,” the statement details.
This was not the only warning issued this week
Earlier this week, on Tuesday, the Bank of Portugal warned that there are two entities unauthorized to conduct business in Portugal. These are ‘AGRA FINANCIA’ and another operating through the website ‘https://universofinancas.com/pt/’.
The banking supervisor reiterates that “the activity of granting credit, as outlined in paragraph b) of section 1 of article 4 of the General Scheme of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92, dated December 31, is reserved for entities legally authorized for this purpose”.
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“The Bank of Portugal warns that ‘AGRA FINANCIA’, operating notably through the internet site accessible at https://finanxiagra.com, is not authorized to conduct, in Portugal, the activity of granting credit or any other financial activity reserved for institutions under the supervision of the Bank of Portugal,” reads a statement issued by the institution.
In another note, the “Bank of Portugal warns that the entity operating, notably, through the website accessible at https://universofinancas.com/pt/ and the Facebook profile https://www.facebook.com/profile.php?id=61571269096771, is not authorized to conduct, in Portugal, the activity of granting credit or any other financial activity reserved for institutions under the supervision of the Bank of Portugal”.
The banking supervisor highlights that “the activity of granting credit, as outlined in paragraph b) of section 1 of article 4 of the General Scheme of Credit Institutions and Financial Companies, approved by Decree-Law No. 298/92, dated December 31, is reserved for entities legally authorized for this purpose, as per article 10 of the aforementioned legal framework”.
“The list of entities authorized to grant credit can be consulted on the Bank of Portugal’s website at www.bportugal.pt,” recommends the Bank of Portugal.
