Erscheinung:15.12.2023 | Topic Unauthorised business, Consumer protection Identity fraud on Telegram Messenger: BaFin warns consumers about FXflatforex signals
BaFin is currently investigating the unknown operator of the “FXflatforex signals” Telegram channel. The operator uses this channel to offer banking business and financial services without the necessary authorisation. BaFin advises that the channel is not operated by the investment firm FXFlat Bank GmbH. This is a case of identity theft against FXFlat Bank GmbH, which is supervised by BaFin.
The operator, which claims to be domiciled in Ratingen, uses the “FXflatforex signals” Telegram channel to invite consumers to transfer funds. The operator uses the logo of FXFlat Bank GmbH and its former registered office at Kokkolastraße 1, Ratingen, without being authorised to do so.
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.
