Erscheinung:22.07.2024 | Topic Consumer protection, Unauthorised business BaFin warns consumers about the trading platform gbekat.store: suspected identity fraud targeting other companies
The company GBE, allegedly domiciled in Singapore, is not supervised by the Federal Financial Supervisory Authority (BaFin). GBE has not been authorised to conduct banking business or provide financial services.
According to the information available, the Singapore-based GBE deceives investors by claiming to be a different company.
The information provided on the gbekat.store website and the information and documents available to BaFin give reasonable grounds to suspect that the platform is being used to conduct banking business and/or provide financial or investment services in Germany 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. Information on whether a particular company has been granted authorisation 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.
