The Superintendency of Banks of Ecuador announced that it has identified 53 entities operating without authorisation to conduct financial activities in Ecuador so far in 2025 and published the names of the entities detected. The authority cited Article 254 of the Organic Monetary and Financial Code, under which any natural or legal person outside the national financial system is prohibited from taking money from the public or carrying out activities reserved for the financial sector, and from using advertising or documents that suggest they operate legally as financial institutions. It also urged the public to verify an institution’s legal status using its published list of unauthorised entities and its public register of authorised and supervised entities.
Superintendencia de Bancos de Ecuador 2025-09-22
Superintendency of Banks of Ecuador reports identifying 53 unauthorised financial operators in 2025
The Superintendency of Banks of Ecuador identified 53 entities operating without authorization in 2025 and published their names. Citing Article 254 of the Organic Monetary and Financial Code, the authority prohibits unauthorized financial activities and advises the public to verify institutions' legal status using its published lists.