Ecuador Superintendencia de Bancos alerts against 92 unauthorized financial entities

The Superintendencia de Bancos in Ecuador has issued an alert regarding 92 unauthorized entities identified in 2026 that are offering loans and financial services without legal permission. These entities, which include both individuals and corporations, operate outside the national financial system and are prohibited from capturing third-party resources or conducting habitual financial activities under Article 254 of the Organic Monetary and Financial Code (COMF).

Superintendent Roberto Romero noted that while Ecuador has 23 monitored private banks and legal savings and credit cooperatives, these fraudulent actors use deceptive advertising and digital means to mimic authorized institutions. Recent illegal entities identified include Credi CNFQ, Corp Ecuador Avanza, CG Finanzas, Procrediecuador, Préstamo Rápido y Seguro, Préstamos Quito Ing Bry, and Créditos Rápidos.

Authorities advise citizens to verify the legality of any institution through the official registry on the Superintendencia de Bancos website before conducting transactions. To prevent fraud, the regulator recommends never sharing personal data, passwords, or card information with unverified callers or through suspicious advertisements.