Erscheinung:09.09.2024 | Topic Unauthorised business, Consumer protection kryptoeu.net: BaFin again warns consumers about KryptoEU
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website kryptoeu.net (formerly kryptoeu.com). According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation. Contrary to the information on the website, BaFin does not supervise KryptoEU. BaFin had already warned against KryptoEU on 3 June 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 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.
