Erscheinung:26.04.2024 | Topic Unauthorised business, Consumer protection FinanzBoerse: BaFin warns against the website finanzboerse.net
The Financial Supervisory Authority BaFin warns against offers from “FinanzBoerse”. It is suspected that the operators of the website finanzboerse.net are providing banking transactions and financial or investment services without the required authorisation. Consumers can allegedly trade currencies, indices, crypto-assets, stocks and commodities. The website is very similar several trading platforms which BaFin warned against on 25.04.2024.
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 required authorisation. Information on whether 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.
