German Regulator BaFin Warns Against Unauthorized Financial Operators CopyBank and RCE Banque.

BaFin warnings against unauthorized financial services providers
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The financial supervisory authority BaFin has issued warnings against CopyBank (here) and RCE Banque (here), which offer banking services via their websites without the required regulatory permission. Bridgewater Associates (UK) Limited allegedly operates RCE Banque with addresses in the UK and in St. Vincent and the Grenadines. BaFin is clarifying whether the operator is identical to the company of the same name listed in the UK companies register “Companies House.”

Furthermore, BaFin points out that in the business documents available on the website RCEbanque.company, Safe Investment Group LLC, also St. Vincent and the Grenadines, is named as the operator. According to BaFin’s findings, the operator was also responsible for the websites rcebanque.com and rcebanque.org in the past.

Anyone offering banking transactions or financial and securities services in Germany requires permission from BaFin to do so. However, some companies offer such services without having the required permission. Information on whether BaFin authorizes a particular company can be found in the regulator’s company database.

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