Erscheinung:19.02.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about the website foxmngt.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website foxmngt.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The website operator refers to itself as “FoxMngt”. It also claims that the website is owned by the company Netming Limited, even though a company by this name was deleted from the British company register, the Companies House, in July 2023. The contact details given on the website refer to an address in London. This address, however, is the home of the Royal Panopticon of Science and Art.
According to the website, FoxMngt is authorised and regulated by an EU organisation called “Financial Certification Organization”. However, this organisation does not exist.
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).
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.
