Tag: Eurocity

German Eurocity lost BaFin banking licenseU
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March 16, 2023

Update On Eurocity: The Secretive Turkish-Controlled ‘No Longer Bank’ And Its Connections!

We recently reported that the European Central Bank(ECB) had revoked the license of the small Turkish-controlled German Eurocity bank. The ECB confirmed this to Finanz Szene. Neither the regulators ECB and BaFin nor Eurocity explained the reasons and background. The 2021 financial statements show that Eurocity has struggled with regulatory problems since 2020. BaFin then imposed a new business ban in 2021. The bank had a connection to the Austrian secret service.
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EFRI principal Elfriede Sixt interview on cybercrime and dark webI
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March 15, 2023

Interesting: What’s Behind The Austrian Secret Service And The Eurocity Bank?

Earlier today, we reported that the European Central Bank (ECB) had revoked the license of the BaFin-regulated Eurocity bank. Eurocity or the regulators have yet to make statements. Eurocity had until recently been under the control of Mustafa Sahin, a Turkish national. The interesting thing is that until June 2022, a former top official of the Austrian secret service sat on the bank's Supervisory Board. Here is what we found via the German language blog Wiener Zocker.
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German Eurocity lost BaFin banking licenseG
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March 15, 2023

German Eurocity Lost Its Banking License Without Further Explanation!

Frankfurt-based Eurocity AG (previously Eurocity Bank AG), a financial institution under Turkish-Austrian control, has apparently lost its banking license. A European Central Bank (ECB) spokesman said the institute's license had already been withdrawn in December 2022. This means that the bank can no longer conduct banking business in Germany. On 15 March 2023, the Eurocity website is still accessible. There is no official statement from Eurocity.
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