BaFin- and CySEC-regulated NAGA deploys fraud marketing campaigns to chase new clients
The NAGA Group AG is a German-based FinTech company publicly listed on the Frankfurt Stock Exchange. The company is doing business as NAGA. The subsidiary NAGA Markets Europe Ltd is an investment firm (CIF) regulated by CySEC in Cyprus with license number 204/13. Another subsidiary is the unregulated offshore entity NAGA Global Ltd, registered in St. Vincent and the Grenadines. The company labels itself as an operator of a social network for financial investments and thus similar to eToro. Today, we established that NAGA is using fraudulent marketing methods.