Erscheinung:27.09.2024 | Topic Unauthorised business, Consumer protection finacix.com: BaFin warns about website and suspected identity theft
The Federal Financial Supervisory Authority (BaFin) warns consumers about services offered on the website finacix.com. According to information available to BaFin, the operator is offering financial and investment services on this website without authorisation.
The website contains contradictory information on the identity of the provider. According to the “Risk Warning”, the website is operated by Finance and Investment Solutions Ltd., while the “Website Terms of Use” names Finacix Ltd. as operator.
Finance and Investment Solutions Ltd. claims to be registered with the British Financial Conduct Authority (FCA). Since a company by this name is indeed registered with the FCA, BaFin suspects this to be a case of identity theft.
Finacix Ltd., on the other hand, claims to be registered with the “Securities Commission of the United Kingdom (SCUK)”. There is no such authority in the United Kingdom. The website states an address in London, United Kingdom, as the company’s registered office.
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 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.
