Erscheinung:18.09.2024 | Topic Unauthorised business, Consumer protection Identity fraud: The Federal Financial Supervisory Authority BaFin warns consumers against offers on website terra-capital.de
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 Terra Capital.
The services are not actually being offered by Vanguard Group Europe GmbH. This is a case of identity fraud by unknown perpetrators.
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 required authorisation. Information on whether companies have been authorised 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.
