The Superintendency of Banks of Ecuador, through superintendent Roberto Romero von Buchwald in media interviews, outlined how it is addressing the problem of unauthorised financial entities that take deposits or otherwise intermediate funds without authorisation. Since he took office in January 2025, the Superintendency has strengthened active investigations, the referral of detected cases for prosecution, and public-facing prevention measures aimed at helping citizens distinguish authorised from unauthorised operators. The approach positions the Superintendency as the initial identification point for suspected unauthorised intermediaries capturing public funds, with follow-on coordination with the Office of the Attorney General for raids, during which other offences may also be identified. For digital cases, the Superintendency reports sites to the Ministry of Telecommunications for blocking or cancellation. Romero also highlighted that such entities may operate without deposit insurance coverage (including COSEDE) and without reporting to the supervisor, and noted that indications of potential money laundering would be investigated by the UAFE. He warned that some unauthorised institutions advertise returns of up to 30% and urged the public to verify an entity’s legal status via the Superintendency’s website and social media channels.
Superintendencia de Bancos de Ecuador 2026-01-19
Ecuador's Superintendency of Banks sets out three-pillar strategy to tackle unauthorised financial intermediaries
The Superintendency of Banks of Ecuador, led by Roberto Romero von Buchwald, is intensifying efforts against unauthorised financial entities by enhancing investigations, prosecuting cases, and implementing public prevention measures. Coordination with the Attorney General and the Ministry of Telecommunications is crucial, as these entities often lack deposit insurance and may be involved in money laundering. Romero advises the public to verify legal status through official channels and be wary of high-return promises.