Erscheinung:22.06.2022 | Topic Unauthorised business Trading platform investirex.com: BaFin investigates Castan Holdings LTD
In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Castan Holdings LTD, Saint Vincent and the Grenadines, has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.
The information provided on the website investirex.com and the information and documents available to BaFin give reasonable grounds to suspect that the platform is being used to conduct banking business and/or provide financial services in Germany without the required authorisation. Some of the business documents on the website refer to Dominican law in a number of places, although the provider states that it is registered in Saint Vincent and the Grenadines.
Companies that conduct banking business or provide financial services in Germany require authorisation under the KWG. However, some companies operate without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
