Illegal Loan Scam Alert: Portugal Warns Residents Against Fiducia Credito's Fake Credit Schemes

The Portugal central bank has issued a public warning that Fiducia Credito, operating through the website www.fiduciapt.com, is conducting unlicensed financial activities that put consumers at direct risk. The April 17 alert marks the latest escalation in the regulator's battle against unlicensed credit schemes targeting vulnerable borrowers across the country.

Why This Matters

• Fiducia Credito is not authorized to grant loans, broker credit, or provide credit consultancy services in Portugal.

• Two individuals—Jaime Alberto Chissico and Daniel Cassule Neto—have been flagged for operating unauthorized payment services, including fund transfers.

• Zero regulatory oversight means no consumer protections, no dispute mechanisms, and no guarantee you'll see your money again.

• Advance fee fraud is common in unlicensed lending schemes: Illegal operators often demand upfront payments for "administrative costs" or "insurance" before the loan supposedly arrives—it never does.

The Banco de Portugal (BdP) warning comes as part of ongoing enforcement against unlicensed financial operators. Governor Álvaro Santos Pereira's administration has prioritized combating entities that exploit financial desperation, reminding the public that only entities listed on the official BdP registry at www.bportugal.pt and the Portal do Cliente Bancário are legally permitted to handle credit or payment operations.

The Fiducia Credito Operation

Fiducia Credito has been advertising credit services without any authorization from Portugal's financial regulator. The entity claims to offer lending, credit brokering, and consultancy—all activities that, by law, can only be performed by supervised financial institutions. Operating outside the regulatory perimeter, Fiducia Credito is not subject to disclosure requirements, capital adequacy rules, or consumer safeguards that legitimate lenders must follow.

This is not an isolated case. In February, the BdP issued a similar warning against Credifiducia - Instituição Financeira de Crédito, Lda, which targeted potential clients via Facebook. The resurgence of similar names and tactics demonstrates the persistence of unauthorized lending schemes attempting to exploit consumers.

The two named individuals, Jaime Alberto Chissico and Daniel Cassule Neto, were specifically flagged for providing unauthorized payment services, including fund remittances. The BdP included their names alongside the Fiducia Credito alert as part of its enforcement actions against unlicensed operators.

What This Means for Residents

If you've interacted with Fiducia Credito, or received offers from Chissico or Cassule Neto, you are dealing with unlicensed operators. Here's what that means in practice:

No legal recourse. If Fiducia Credito takes your money and disappears, you cannot turn to the Fundo de Garantia de Depósitos or any consumer arbitration system. Your funds are unprotected.

Data misuse risk. Providing personal or financial information to an unlicensed entity exposes you to identity theft, phishing, or sale of your data to other criminal networks.

Upfront fee traps. One of the most common scams in unlicensed lending involves demanding payment for "processing," "insurance," or "guarantee" before the loan is supposedly approved. Once you pay, the operator vanishes. No legitimate credit institution in Portugal requires upfront payments for loan approval.

The BdP stresses that all authorized lenders and intermediaries must be registered and can be verified instantly. The registry includes the entity's legal name, tax identification number (NIF/NIPC), registration number, and scope of authorization (housing credit, consumer credit, or both). If an entity is not on the list, it is not legal.

How to Protect Yourself

Portugal's financial regulatory framework is robust, but protection depends on consumer vigilance. The BdP recommends the following steps:

Always verify before you engage. Before signing any contract or sharing personal information, check the BdP registry at www.bportugal.pt or clientebancario.bportugal.pt. If the entity is not listed, walk away.

Never pay upfront. Legitimate lenders deduct fees from the loan disbursement or include them in the repayment schedule. Any demand for advance payment is a red flag.

Beware of "easy credit" promises. Ads on Facebook, Instagram, or unsolicited phone calls offering instant approval without credit checks are common warning signs of potential scams. Licensed lenders are required by law to assess your ability to repay.

Report suspicious activity. If you suspect fraud, contact the BdP at 213 130 000 or info@bportugal.pt. Provide as much detail as possible: website URLs, phone numbers, names, and any documentation. The BdP will investigate reports of unauthorized financial operations.

File a police report. In addition to notifying the BdP, report the incident to the Polícia Judiciária (PJ), the GNR, or PSP. Financial fraud is a criminal matter, and law enforcement can coordinate with relevant authorities.

The Broader Context

Digital-first scams—entities operating solely through websites, social media, and messaging apps—have become increasingly common in recent years. The BdP continues to strengthen enforcement mechanisms and consumer education to combat unlicensed operators that take advantage of online platforms.

The BdP's public alerts are a key enforcement tool, providing consumers with information about unauthorized entities and individuals. Staying informed through official BdP warnings helps residents protect themselves from unlicensed operators.

What Happens Next

The BdP has issued this public alert to warn consumers about Fiducia Credito and the named individuals. The regulator's warnings are part of its ongoing enforcement actions against unlicensed financial operations.

For now, the message is clear: If Fiducia Credito, Chissico, or Cassule Neto contact you, do not engage. If you've already made payments, document everything and report it immediately. The faster authorities receive information, the better the chance of identifying those responsible and preventing further harm.

Portugal's financial system is among the most regulated in the EU, but that protection only extends to those who verify before they trust. In an era of digital fraud, the responsibility of due diligence increasingly falls on the consumer. Check the registry, ask questions, and when in doubt, walk away.