Erscheinung:14.03.2024 | Topic Unauthorised business, Consumer protection Chainpilot: BaFin warns consumers about the website chainpilot.co
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Chainpilot and the services it is offering. BaFin suspects the unknown operators of Chainpilot of offering consumers financial and investment services on the website chainpilot.co without the required authorisation. The operators refer to themselves simply as Chainpilot and provide no information regarding their legal form. Furthermore, the website does not contain a legal notice.
Anyone wishing to conduct banking business or provide 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 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.
