Promises of easy and quick loans are spread on social networks such as Facebook and Instagram, and denominations even offer reliable institutions that can be better deceived. Until the end of July, of the 17 warnings issued by Banco de Portugal, only three did not have social media profiles.
“They even promise to respond within a few hours, pay when you can, without having to go to the banks, and guarantee confidentiality,” Banco de Portugal describes in a message that draws attention to credit offers via email, WhatsApp, Messenger and Facebook. “Crédito Português,” “Rosa Maria Ferreira Da Misericórdia Instituição PT” and “Crédito Expresso Portugal” are some of the entities that are not authorized to act as intermediaries or issue loans that Banco de Portugal has found on social networks.
The contacts often begin with filling out a form, after which the criminal contacts the victim via email, Messenger or WhatsApp and asks for amounts “to pay fees, insurance or post-dated checks” that disappear upon receipt, BdP describes. To avoid falling for the bait, simply go to the Banco de Portugal website and check the list of entities authorized to issue credit. “If you find that an entity is not authorized, it is because it is not subject to any supervision and it is best to stop using these offers,” BdP advises.
REGISTRATION PERMIT SINCE 2018
Since 1 January 2018, Banco de Portugal is responsible for the authorisation and registration of all individuals and legal entities wishing to carry out credit intermediary activities in Portugal.
UNIVERSE 5822 INTERMEDIATE level
By 31 December 2023, Banco de Portugal had registered 5,822 credit intermediaries, of which 5,798 were authorised directly by the BdP and 24 were authorised in other Member States of the European Union.
