The Bank of Cape Verde’s 2025 conduct supervision report recorded 278 consumer complaints, including 245 involving banks and 33 involving insurers. Banking complaints rose 11.87% from 2024 and represented 88% of the total, while insurance complaints increased 26.92%. Among the 202 banking complaints within the central bank’s remit, bank accounts were the largest category with 61 cases, while fraud complaints climbed 150% to 25 amid increased risks associated with digital financial services and channel security. The central bank adopted 25 supervisory measures to correct irregularities and strengthen conduct compliance, comprising 15 recommendations and 10 specific determinations. It also reviewed nine proposed pricing schedule changes. Complaint handling resulted in financial institutions returning ECV 3,154,582 to consumers, mainly through reimbursements by banks for unauthorized transactions, operational errors and ATM anomalies. The Bank of Cape Verde will continue preventive and ongoing monitoring of financial institutions’ conduct, with particular attention to fraud and risks arising from digital channels.
2026-08-17Bank of Cape Verde
Bank of Cape Verde reports 278 consumer complaints in 2025, fraud complaints rise 150%
The Bank of Cape Verde recorded 278 consumer complaints in 2025, with banking complaints up 11.87% and insurance complaints up 26.92%. Fraud complaints rose 150% to 25, while the central bank imposed 25 supervisory measures. Financial institutions returned ECV 3,154,582 to consumers.