Portugal: CMVM warns of fraudulent website associated with former Banif bank

The Portuguese Securities Market Commission (CMVM) on Monday warned that the entity operating through the website https://market.banif-bc.online/ has no relationship with the former Banif bank and is not authorised to carry out financial intermediation in Portugal.  

In a statement published on its website, the regulator warned that the entity that operates through the website https://market.banif-bc.online/ is using unduly identifying elements, such as similar denomination and logo, of the financial intermediary previously registered with the CMVM Banif – Banco de Investimento, SA.

“The CMVM clarifies that this entity has no relationship with the financial intermediary Bison Bank, S.A. registered with the CMVM, previously called Banif – Banco de Investimento, S.A., and that it is not the subject of this communication nor, in any way, targeted by it,” it said.

According to the statement, the entity in question is neither authorised nor registered with the CMVM to carry out any financial intermediation activity in Portugal and is not legally qualified to carry out advertising or prospecting for clients to sign financial intermediation contracts.

To ensure that a particular entity offering investment services in financial instruments is authorised to carry out the activity in Portugal, the market regulator advises consulting the list of financial intermediaries or the list of entities authorised to provide financial services in Portugal under the Freedom to Provide Services (LPS) regime.

All persons and entities that have established any business relationship with the entity now in question may contact the CMVM at 800 205 339, or by e-mail at [email protected]