Attention! Banco de Portugal alerts to unauthorised entities

O Banco de Portugal (BdP) revealed this Friday that the entity “Fafetine Armando Moiane” is not entitled to provide payment services. 

“ Banco de Portugal warns that Fafetine Armando Moiane (NIF 308122232), acting on its own behalf or on behalf of third parties, is not entitled to develop, in Portugal, financial activity reserved for institutions subject to the supervision of Banco de Portugal, namely to provide payment services, including the sending of funds”, can be read in a notified published by the institution. 

The bank supervisor recalls that “the provision of payment services provided for in Article 4 of the Legal System for Payment Services and Electronic Currency, approved by Decree-Law No 91/2018 of 12 November 2018, is reserved in Portugal to entities authorised for this purpose, in accordance with Article 11(1) of the same legal regime”.

More: “The list of entities authorised to provide payment services can be found on the Banco de Portugal website at www.bportugal.pt”.

Already on Thursday the Banco de Portugal had issued a similar alert, but for another entity also without authorization to exercise in Portugal: 

“Avoid loss of life savings”: The plan to combat fraud

DECO PROTESTI joined the Securities Market Commission (MEC) to launch a joint plan to prevent online financial fraud, crossing the complaints it has received with the information collected from the regulator, was announced.

“In order to avoid the loss of life savings, DECO PROTESTE and CMVM call on consumers to consult the ‘site’ and magazines of DECO PROTESTE and the CVM Investor Portal, before making any investment, and reinforce that prevention is the best defense”, reads a statement released.

The two entities also recommend consumers to pay particular attention to the content that circulates on social networks — whether messages or misleading ads — that use logos and names of known banks and companies to legitimize “safe and profitable investments” or “single investment opportunities”, collecting bank data from victims and leading them to transfer money that will hardly recover.

“Strengthening financial literacy is the focus of this partnership with DECO PROTEST. An informed and critical consumer, who suspects when some offer seems too good, is a fundamental step to prevent these scams from spreading,” said Maria João Teixeira, director of the Department of Behavioral Supervision and the Investor, CMVM, quoted in the statement.

DECO PROTESTE and CMVM advise consumers who are victims of fraud to first gather all information about the case — transfers, ‘e-mails’, ‘printscreens’, messages, any evidence.