The Bank of Portugal (BdP) has issued a warning on its website, stating that the entity “is not authorized to conduct deposit-taking, lending, or any other financial activities reserved for institutions under the supervision of the Bank of Portugal” within the country.
Euro Global Banco operates through the website https://euro-global-banco.com/, which is available in six languages, including Portuguese.
The website claims to collaborate with various “partner” banks and attempts to legitimize this information by displaying the logos of several globally recognized financial institutions. It describes itself as follows: “Euro Global Banco offers personalized support for your business and connects you to your agency networks, regardless of your sector of activity.”
In Portugal, the General Regime for Credit Institutions and Financial Companies stipulates that the activities of deposit-taking and lending are reserved “for entities legally authorized for such purposes, as outlined in Article 10 of the said legal framework,” emphasizes the Bank of Portugal, clarifying that “Euro Global Banco” does not meet these criteria.
When BdP identifies companies, individuals, or other entities engaging in unauthorized financial activities, ranging from lending to money transfers, it issues warnings on its website, as it has done in this case.
The website of the Bank of Portugal lists entities that are authorized to receive deposits and grant credit.
Since April, the bank has already highlighted the lack of authorization for several entities, including Inácio Bandeira da Costa (financial services), Cab Europe BV Bank (financial activity), Atlansia Portugal (credit granting), the website ‘eurodnb.com’ (credit granting), Novocredito Lda (credit brokerage and consultancy), the page “Fiável Crédito Maria Cristina Lda” (credit granting, brokerage, and consultancy), Agra Financia, and Universo Finanças (financial activities, particularly credit granting).
