Erscheinung:12.11.2021 | Topic Unauthorised business Trading platform investor500.com: BaFin launches investigation into the company Investor Plus 500 LTD
In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Investor Plus 500 Ltd has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin and is not affiliated with the supervised company Plus500 Ltd.
The information provided on the company’s website investor500.com gives reasonable grounds to suspect that Investor Plus 500 LTD is conducting banking business/providing 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 necessary authorisation. 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.
