Erscheinung:22.10.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about a further FinFlex website: finflex.info
On 9 August 2024, BaFin issued a warning about FinFlex and its website finflex.org, which has since been deactivated. The unknown operators are now using the nearly identical website finflex.info. BaFin suspects the operators of the websites of offering consumers financial and investment services on these platforms without the required authorisation.
The content of the websites is identical to other platforms that BaFin has previously warned consumers about and that display the same opening sentence: “Upgrade Your Trading With…”.
Anyone conducting banking business or 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.
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.
