Erscheinung:29.11.2024 | Topic Unauthorised business, Consumer protection Identity fraud: BaFin warns consumers about the website ls-ex.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website ls-ex.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The operator of the website mostly refers to itself as London St Ex or London St Ex Limited. Nevertheless, the operator makes a number of explicit references to the London Stock Exchange. This is a case of identity fraud. The operator of the website claims to be based in Belfast, United Kingdom.
As BaFin has now become aware, the operator now maintains the (almost) identical website global-stex.com, which BaFin also warns against. To BaFin's knowledge, the operator also operated the now inactive websites lst-ex.com, lstckx.com and global-lstex.com in the past.
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 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.
