Erscheinung:11.12.2024 | Topic Unauthorised business, Consumer protection Nexus LLC: BaFin warns consumers about websites spswcapital.net and spswcapital.com – a case of identity fraud
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the websites spswcapital.net and spswcapital.com, which are nearly identical. BaFin has information that Nexus LLC, based in Saint Vincent and the Grenadines, is providing financial and investment services on these websites without the required authorisation.
In their dealings with customers, the website operators claim to be the investment firm SPSW Capital GmbH, which is based in Hamburg, Germany, and is registered with BaFin. The operators of these websites also refer to the firm’s registration in BaFin’s database of companies, which is available to the general public. The operators’ claim is not true, however: this is a case of identity theft by unknown perpetrators targeting SPSW Capital GmbH.
BaFin has come across Nexus LLC several times in the past as the operator of unauthorised trading platforms.
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. It is possible, however, for BaFin’s database to be used fraudulently, as in the present case.
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.
