Erscheinung:07.11.2024 | Topic Unauthorised business, Consumer protection Website coincapitals.net: BaFin warns consumers about the company CoinCapit
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company CoinCapit and the services it is offering. BaFin suspects the operators of the website coincapitals.net of offering consumers financial and investment services without the required authorisation.
Recently, several almost identical websites have emerged, which have also been the subject of warnings issued by BaFin. All of these websites use the introductory statement: “Step Into the Trading Arena with Confidence & [name of website]“.
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.
Theinformation 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.
