Erscheinung:26.04.2024 | Topic Unauthorised business, Consumer protection Website not-esco.com: BaFin issues warning about Notesco
BaFin suspects the unknown operators of the website not-esco.com of offering consumers financial and investment services without the required authorisation. Notesco claims that it has been granted authorisation by BaFin. This is not the case. There is no link between Notesco and the company Tangany GmbH domiciled in Munich, whose address and register data are presented on the Notesco website. This is a case of identity fraud.
Anyone wishing to conduct banking business or provide 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 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.
