Erscheinung:28.08.2024 | Topic Unauthorised business, Consumer protection OTC-500: BaFin warns about websites otc-500.ai, otc-500.com, otceuropa.com and trade-otc-investment.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about services offered by OTC-500 on the websites otc-500.ai, otc-500.com, otceuropa.com and trade-otc-investment.com. BaFin has information that the company is offering financial services without the required au-thorisation.
Financial services may only be offered in Germany if the company provid-ing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the required au-thorisation. Information on whether particular companies have been au-thorised 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.
