Erscheinung:01.02.2024 | Topic Unauthorised business, Consumer protection Identity theft: BaFin warns consumers about the website fx-flat.com
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) is currently investigating the unknown operator of the website fx-flat.com. The operator uses this website to offer banking business and financial services without the necessary authorisation. The website is not operated by FXFlat Bank GmbH. This is a case of identity theft against FXFlat Bank GmbH, which is supervised by BaFin.
The operator claims to be based in Ratingen, Germany, and uses the website, which is available only in Italian, to try to convince consumers to open a trading account. The website lists the former headquarters (Josef-Schappe-Straße 21, Ratingen) and telephone number of FXFlat Bank GmbH. The operator also falsely claims to be licensed by BaFin and lists the registration number assigned by BaFin to FXFlat Bank GmbH.
Anyone 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.
