In recent weeks, the German financial market authority BaFin has issued cease and desist orders to unauthorized and therefore illegal German payment processors. Some of them we already knew from various scams, others are rather new which may be an indication that scam businesses are still active on a high level. Here are the latest warnings:
- VINOG Logik Consult GmbH i.G.
- FinTech Services GmbH
- Intersafety GmbH
- Davis Consulting and more GmbH
- Digiteck UG
- Hrondotto UG
- Betamarket UG
The fact that the number of these cease and desist orders has massively increased in recent weeks despite the ongoing COVID-19 crisis shows that FinTelegram’s many warnings against illegally operating payment processors are justified. In the interest of the security of the online investment scene and investor protection, we can not warn enough against these payment processors. It is them who facilitate scammers and support them in defrauding investors.