Erscheinung:02.07.2024 | Topic Unauthorised business, Consumer protection RIDGE Deutschland: BaFin warns consumers about website ridge.de
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website ridge.de. According to information available to BaFin, several financial and investment services are being provided on this website without the required authorisation.
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 necessary authorisation.
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.