Erscheinung:10.02.2025 | Topic Unauthorised business, Consumer protection primeescrow.net: BaFin warns against Prime Escrow
The Financial Supervisory Authority BaFin warns against offers from Prime Escrow, allegedly Frankfurt am Main. It is suspected that the unknown operators of the website primeescrow.net are providing payment services without the required authorisation.
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 required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 8 (7) of the German Act on the Supervision of Payment Services (Zahlungsdiensteaufsichtsgesetz – ZAG).
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.
