Erscheinung:29.04.2021 | Topic Unauthorised business Identity fraud: MMG Finance Group
BaFin hereby announces that it has not granted the MMG Finance Group, allegedly domiciled in the United Kingdom, authorisation to conduct banking business or provide financial services in accordance with section 32 of the German Banking Act (Kreditwesengesetz – KWG). The company is not subject to BaFin’s supervision and is not authorised to operate as a bank in Germany.
The MMG Finance Group operates under the following names: “MMG Generali Group”, “MMG Group” and “MMG Bank Corporation”. It also refers to itself as a company that is part of JP Morgan Chase & Co. and the Generali Group, using the names “Morgan & Morgan” and “MMG Bank”, which gives the impression that the MMG Finance Group is linked to licensed institutions or that it is an authorised institution itself. This, however, is not the case.
