Erscheinung:14.03.2022 | Topic Unauthorised business bluewhaleinvestment.net: BaFin investigates Blue Whale Investment
In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that the company Blue Whale Investment has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin and is not affiliated with the company Blue Whale Capital LLP, which is subject to supervision in the United Kingdom. The information provided on the company’s website, bluewhaleinvestment.net, gives reasonable grounds to suspect that Blue Whale Investment conducts banking business and provides financial services in the Federal Republic of Germany without the required authorisation.
Under the KWG, authorisation from BaFin is required to conduct banking business or provide financial services in Germany. However, some companies operate without the necessary authorisation. Information on whether a particular company has been authorised by BaFin can be found in BaFin’s database of companies..
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
You can find a warning issued by the Financial Conduct Authority by clicking on the following link: Blue Whale Investment (BWI) (Clone of FCA Authorised firm)
