Erscheinung:21.08.2023 | Topic Unauthorised business, Consumer protection dbg-coltdfx.com: BaFin investigates website operators
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) warns consumers about the website dbg-coltdfx.com. According to information available to BaFin, the operators are providing financial and investment services via this website without the required authorisation.
On the website, the operators are simply referred to as DBG Markets and no details are given regarding their legal form. The platform is allegedly domiciled in Hong Kong. The website contains no legal notice.
Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware:
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.
