On the website, the operators are simply referred to as VitalInvest and no details are given regarding their legal form. The platform is allegedly domiciled in Jakarta, Indonesia. The operators appear to be running a fraudulent business model.

Employees of the platform have told customers that the platform operates in the United Kingdom and is registered there. There are no indications that the platform is registered with the competent British Financial Conduct Authority (FCA). Employees of the platform have also referred to a licence from the FISEU (“Financial Security Commission of Europe” / “Europäische Kommission für finanzielle Sicherheit” / “Europäische Finanzkommission” / “WFA”). On 10 February 2023, BaFin issued a warning about this alleged supervisory authority, which does not have a mandate or authorisation as a national or international supervisor. The operators behind Vitalinvest have also been sending out falsified payment confirmations from an authorised German credit institution. This is intended to give the impression that transfers are pending.

Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).