Erscheinung:19.11.2024 | Topic Unauthorised business, Consumer protection Identity theft: BaFin warns consumers about the website tfg-trade.de
The Federal Financial Supervisory Authority (BaFin) warns consumers about the website tfg-trade.de. According to information available to BaFin, this website is being used to provide financial and investment services in Germany without the required authorisation. The unknown operator of the website claims to be Trust Financial Solutions Ltd and, in some cases, Trust Financial Group Ltd. This is a case of identity theft. The sites tfg.finance and tfg.markets are also associated with this unknown operator.
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.
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.
