Erscheinung:24.05.2019 | Topic Unauthorised business Crowd Capital Technology GmbH i.G.: BaFin orders the cessation and winding-up of unauthorised money remittance business.
In a notice dated 24 April 2019, BaFin ordered Crowd Capital Technology GmbH i.G., Berlin, to cease and wind up its unauthorised money remittance business immediately.
Crowd Capital Technology GmbH i.G. accepts funds from private persons into its business accounts and transfers these funds to various foreign accounts belonging to companies that are predominantly domiciled abroad. In doing so, Crowd Capital Technology GmbH i.G. is conducting money remittance business without the required authorisation from BaFin. At this stage of the investigations, BaFin assumes that the transferred funds are funds from customers of unlicensed online trading platforms.
The order is immediately enforceable but not yet final.