Erscheinung:30.07.2024 | Topic Unauthorised business, Consumer protection Identity theft committed against GBE Brokers Ltd.: BaFin warns consumers about the UK company “GBE Broker Markets Ltd.” and the services it is offering
The Federal Financial Supervisory Authority (BaFin) has information that the company, which claims to have its registered office in the UK, is providing financial services in Germany on its website www.gbe-broker.com without the required authorisation. The company is not supervised by BaFin. Customers are incorrectly led to believe that they are dealing with the Cypriot company GBE Brokers Ltd., which is registered with BaFin and has a branch office in Hamburg. This is a case of identity fraud.
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.
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.
