Erscheinung:03.01.2025 | Topic Consumer protection, Unauthorised business BaFin warns consumers about the website convetsignals.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Convetsignals, which claims to have its registered office in the US, and the services it is offering. BaFin has information that the company is conducting banking business and providing financial services in Germany on its website convetsignals.com without the required authorisation. The company does provide any information about its legal form. It is not supervised by BaFin.
Banking business, financial services and investment services may only be offered in Germany if the company providing these services has the necessary 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.
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.
