Erscheinung:21.11.2023 | Topic Consumer protection, Unauthorised business doublecapitals.com: BaFin investigates website operator
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website doublecapitals.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
On the website, the operator refers to itself as “Double Capitals” without providing any information about its legal form or the company’s domicile. Furthermore, the website does not contain any legal notice. It should be noted that in the business documents available on the website a different operator, “Swapsco Market”, is named. The website swapscomarket.com is currently inactive. Before its deactivation, swapscomarket.com was nearly identical to doublecapitals.com.
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.
