Sorry, too late! German BaFin investigates ROIMAX broker scam

BaFin investigates ROIMAX broker scam
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The German regulator BaFin announced today an investment of ROIMAX broker scam (www.roimax.io). The operator is said to be the offshore entity ATRIUM Ventures Ltd, registered in the Commonwealth of Dominica. In May 2020, the UK Financial Conduct Authority (FCA) issued an investor warning against the scam that attacks customers in English and German. The scam has already been in retreat for several weeks; registrations and deposits are no longer possible for potential victims.

In total, the ROIMAX broker scam has been active for almost two years and has probably produced thousands of victims during this time. The domain www.roimax.io was registered in July 2019. In this respect, BaFin‘s investigation for violations of German financial laws can be considered forensic at best.

In recent weeks, German law enforcement agencies have taken massive action against operators of broker scams. According to Europol, 170 domains and websites were confiscated in several enforcement actions in Cyprus, Bulgaria, and Ukraine. It would be desirable for BaFin to act with similar aggressiveness against scammers and financial cybercrime within the scope of its possibilities.

CategoriesBaFin FCA

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