Erscheinung:28.04.2021 | Topic Unauthorised business ctxprime.com: BaFin investigates RMD DEVELOPMENTS LTD
In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin wishes to clarify that RMD DEVELOPMENTS LTD, Roseua, Dominica, has not been granted authorisation under the KWG to conduct banking business or provide financial services.
The company is not supervised by BaFin. Based on the content of the company’s website, ctxprime.com, there are grounds which indicate that RMD DEVELOPMENTS LTD conducts banking business and provides financial services in the Federal Republic of Germany without the required authorisation.
Companies that conduct banking business or provide financial services in Germany require authorisation from BaFin under the KWG. However, some companies operate without the required authorisation until they are stopped by BaFin. Information on whether a certain company has been authorised by BaFin can be found in BaFin’s database of companies.
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt) and the German state criminal police offices (Landeskriminalämter) recommend that anyone seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to avoid becoming the victim of fraud.
