BaFin | FinTelegram News

Category: BaFin

September 6, 2022

Urgent Investor Warning Against Pioneer Trade Ltd Crypto Investment Scheme.

The German regulator BaFin warns against the Pioneer Trade Ltd crypto investment scheme, allegedly operated by the UK-registered Pioneertrade Ltd or Digital Currency Group. Bafin points out that this scheme does not have a license to conduct banking business or provide financial services. The UK Companies House lists Hamza Iftikhar, a Pakistani, as director and beneficial owner. The website promises up to 3,000% profits within six months. Stay very far away!

August 26, 2022

Breaking: German BaFin May Punish Payment Processor Unzer Over Money Laundering Issues!

The German regulator BaFin conducted a special audit at payment service provider Unzer. According to insiders, the regulator will soon impose a substantial fine on the payment processor. According to a report in the German Manager Magazine, Bafin could even impose a ban on new business, as it had already done with N26. In addition to money laundering deficiencies, Unzer had business dealings with German businessman Ruben Weigand, who was convicted of running a bank fraud scheme in the U.S.

August 19, 2022

Urgent Attention: Fake BaFin Emails Promise Fund Recovery From Crypto Exchange Binance

Currently, German consumers are receiving fake emails from the German regulator BaFin in which unknown persons offer their help to get back frozen funds. Specifically, these scammers claim to want to help consumers verify their allegedly frozen accounts on the unlicensed online trading platform Binance. Of course, however, the potential victims must first make an initial payment. To contact them, they use the email address [email protected] Stay far, far away!

August 16, 2022

Investor Warning Against Damkonet Broker Scams

The German regulator BaFin has announced an investigation into the Damkonet broker scam. The operator is allegedly Damkonet Ltd., registered in the Marshall Islands. Potential victims can lose their money via credit and debit cards, where we discovered Texcent as the payment processor. Damkonet is a typical white label scam that is not even particularly well done. Please stay very far away and save yourself from losing your money and misusing your data.

August 12, 2022

Breaking: BaFin Launched Probe Into LATOKEN Crypto Exchange For Security Token Offerings!

The German BaFin announced today that it had initiated investigations against LiquiTrade Limited in the Caymen Islands. This offshore entity is behind the well-known LATOKEN crypto exchange, which it jointly operates with Payex OÜ, registered in Estonia. Until June 2022, Payex OÜ had a crypto license from the Estonian FIU. BaFin suspects LATOKEN is offering financial services in Germany without permission. LATOKEN accepts Security Token Offerings (STO).

BaFin

August 7, 2022

Investor Warning Against Proloxy Broker Scam!

BaFin has announced an investigation into the Proloxy broker scam, The contents of the website and documents available to the regulator justify the assumption that unauthorized banking transactions or financial services are offered in Germany. There is neither an imprint nor any other indication of the provider's place of business. In the terms and conditions, reference is made to the law of St. Vincent and the Grenadines. Stay far away.

August 5, 2022

Urgent Warning Against GMT Trading Broker Scam Facilitated By Payola!

The German regulator BaFin has warned against the white-label GMT Trading broker scam and announced investigations. The broker's website does not provide any information about the operators or the relevant jurisdiction. Deposits from potential victims are possible via credit and debit cards, which are processed via the facilitating payment processor Payola. Alternatively, victims can lose their funds via crypto deposits. You wanted to stay far away from GMT Trading and save yourself from financial losses and loss and misuse of your data.

August 5, 2022

Urgent Investor Warning Against Attiora Broker & Crypto Investment Scheme!

In June 2022, the German regulator BaFin announced an investigation into the Attiora broker and crypto investment scheme, pointing out that financial services are offered through various domains without permission. In early August 2022, the Spanish CNMV regulator also warned against Attiora and its various domains. The scheme is operated through legal entities in Australia. Potential victims can make deposits to Attiora in cryptocurrencies only. Stay very far away.

BaFin
FMA

August 3, 2022

Urgent Warning Against FinanceX Broker Scam

We have already warned against the FinanceX broker scam in March 2022. Registered in October 2021 with the registration number 26491 in St. Vincent & The Grenadines, Big Box Ltd is allegedly the scam operating entity. As a scam-facilitating payment processor, we have discovered the infamous NeoBanQ. The German BaFin and the Austrian FMA issued warnings against FinanceX recently. Stay far away from this white-label scam and save yourself from losing your money in these difficult times.

July 27, 2022

Notorious German Solarisbank Renames Itself Solaris And Changes Legal Form!

Over the last few years, we have found Berlin-based Solarisbank as a facilitating payment processor in many scams. In February, the German regulator BaFin sent a special auditor to the bank because of alleged money laundering problems. Now the German bank has dropped the term "bank" from its name and just calls itself Solaris. It wants to focus on the company's technical DNA and be perceived as a technology company rather than a bank. The strategic focus is, therefore, on the Banking-as-a-Service (BaaS) offering for other FinTechs.

BaFin

July 18, 2022

Investor Warning Against Investery Group Broker Scam!

The German regulator BaFin warns against the Investery Group broker scam. The information available to BaFin justifies the assumption that Investery Group offers financial services in Germany without permission. The website does not state a legal entity and gives a business address in Switzerland, which does not exist. In the terms and conditions, however, reference is made to the law of Vanuatu. Potential victims may lose their money via deposits in Bitcoins. Stay very far away and save yourself from financial losses.

July 7, 2022

Investor Warning Against ProfitInvestFX Broker Scam!

The German regulator BaFin has conducted an investigation of ProfitInvestFX. The operator is allegedly New Generation Market SIA in Dublin, Ireland, or Riga, Latvia. The content on the website as well as documents available to BaFin justifies the assumption that New Generation Market SIA is unauthorizedly offering banking transactions or financial services via the aforementioned Internet platform in Germany. During our review today, no registration was possible. The scam will soon be gone.