Erscheinung:01.10.2024 | Topic Unauthorised business, Consumer protection LC-Markt LTD: BaFin warns consumers about website lc-markt.co
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website Ic-markt.co. According to information available to BaFin, the operators are providing financial and investment services on this website without the required authorisation.
On 8 July 2024, BaFin issued a warning about LC-Markt LTD and its website lc-markt.com, which has since been deactivated. The operator is now using the nearly identical website lc-markt.co. Only the introductory sentence has been changed to “Your Platform for Limitless Success”.
Anyone 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.
