Erscheinung:24.07.2024 | Topic Unauthorised business, Consumer protection “Finanz Vision Bank”: BaFin warns consumers about the website finanzvision-bk.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company “Finanz Vision Bank” and the services it is offering. BaFin suspects that the operators of the website finanzvision-bk.com, who claim to have a business address at Eurener Str. 190, 54290 Trier, are conducting banking business in Germany without the required authorisation. The unknown operators do not hold authorisation under the German Banking Act (Kreditwesengesetz – KWG) and are not supervised by BaFin.
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 attempted fraud at an early stage.
Background information:
Companies that conduct banking business or provide financial services in Germany require authorisation under the KWG and/or the German Investment Firm Act (Wertpapierinstitutsgesetz – WpIG). However , some companies operate without the necessary authorisation. Consumers can find information on whether BaFin has granted such authorisation to a particular company 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.
