Erscheinung:21.02.2024 | Topic Unauthorised business, Consumer protection BaFin issues warning about MPC Bulgaria Ltd.
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company MPC Bulgaria Ltd., based in Varna, Bulgaria, and the services it is offering. BaFin suspects the company of offering consumers financial services without the required authorisation. MPC Bulgaria Ltd. is not supervised by BaFin.
There are indications that the company is using a Telegram channel to contact potential customers in Germany, promising them huge profits.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular companies have been authorised 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).
Update (21 February 2024):
When it contacts potential customers, MPC Bulgaria Ltd. promotes a project called “The Swarm” or the “Swarm project” (Der Schwarm or das Schwarm-Projekt).
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.
