Erscheinung:01.02.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about the website coinmarkupp.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website coinmarkupp.com. According to information available to BaFin, the unknown operator is providing financial and investment services on this website without the required authorisation.
The operator of the website cannot be clearly identified. The operator just refers to itself using the name “Coinmark” without providing any information about its legal form. There is no legal notice on the website. The company is supposedly domiciled in Canada, but no full business address is listed. The operator claims to have further branches in East Asia.
Anyone conducting banking business and 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 particular companies have been authorised 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.
