Consumers should be warned about misleading advertising by the Nevakred website. The website states that Nevakred is a credit institution, and holds a Banka Slovenije authorisation, which is not the case. The firm is thus in breach of legislation, and is misleading consumers. Banka Slovenije is therefore advising caution on the part of the public, in that transactions via the aforementioned website are not under the supervision of the competent authorities, which means that consumers themselves bear increased risks as per Consumer Credit Act, and also face the possibility of fraud.
Credit institutions operating in Slovenia are required by legislation to hold an authorisation from Banka Slovenije or another central bank in the euro area in order to operate. Banka Slovenije therefore advises the public when doing business with a credit institution to check whether it holds the relevant authorisation to operate and to provide the services covered by the authorisation. A list of all entities with an authorisation is given in the register of supervised entities, which can be found on the Banka Slovenije website.
On its website Nevakred states that it holds a Banka Slovenije authorisation, which is not the case. It is thus wilfully misleading consumers, and is in breach of the Banking Act, the Consumer Credit Act and the Consumer Protection Act. Transacting with an institution without an authorisation entails greater risk to consumers, both in terms of protection of the rights guaranteed by law, and in terms of the possibility of fraud.
Banka Slovenije will take action in line with its powers. Consumers who have already concluded transactions with the aforementioned financial entity are advised to contact the Market Inspectorate of the Republic of Slovenia, or the police.