Ecuador's Superintendency of Banks reported that it has identified 56 entities carrying out financial activities in Ecuador without its authorisation and published the names of the unauthorised operators. The authority linked the activity to a breach of Article 254 of the Organic Monetary and Financial Code, which states that no natural or legal person outside the national financial system may take money from the public or perform activities reserved to the financial sector. It also urged the public to verify an institution’s legal status before handing over funds and pointed to its official channels, including online lists of unauthorised entities and a registry of authorised and supervised entities.
Superintendencia de Bancos de Ecuador 2025-11-19
Ecuador's Superintendency of Banks publishes list of 56 entities conducting financial activities without authorisation
Ecuador's Superintendency of Banks identified 56 entities conducting financial activities without authorization, violating Article 254 of the Organic Monetary and Financial Code. The authority published the names of these operators and advised the public to verify institutions' legal status through official channels before engaging in financial transactions.