Erscheinung:01.11.2023 | Topic Unauthorised business, Consumer protection tradecentrix.net and cmginternal.org: BaFin investigates website operators
The Federal Financial Supervisory Authority (BaFin) warns consumers about the websites tradecentrix.net and cmginternal.org. According to information available to BaFin, the operators are providing financial and investment services on these websites without the required authorisation.
Other than in name, the two websites are identical. The operators refer to themselves using the names TradeCentrix and CMGInternal. In both cases, there is no information regarding their legal form. The websites contain no legal notice and no details of the operators’ business addresses or registered offices: reference is simply made to their location in London, United Kingdom. In addition, BaFin has evidence that a third website, cmginternal.io, was active until recently.
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).
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.
