Erscheinung:25.04.2024 | Topic Unauthorised business, Consumer protection BossaTech/Bossa Technology: BaFin investigates app operators due to unauthorised financial services
The Federal Financial Supervisory Authority (BaFin) warns consumers about the BossaTech app. The app can be downloaded from the Google Play store and via the website bossaapp.de
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 necessary 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).
Update (15 November 2023):
In addition to the Bossa app, there is now an app available called BossaTech. The two apps are attributable to the same operator. The Bossa app is no longer downloadable on the Google Play store; however, it is available via the website bossaapp.com.
Please be aware
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.
