Erscheinung:18.02.2025 | Topic Unauthorised business, Consumer protection amgfinancialeu.com: BaFin warns of website and points to suspected identity fraud
The German Federal Financial Supervisory Authority (BaFin) warns against the website amgfinancialeu.com. According to its findings, financial and investment services as well as crypto-asset services are offered there without permission.
The operator of the website appears only under the name AMGfinancialEU, without mentioning a legal form. He claims to be based in Zurich, Switzerland, at LLB Swiss Investments AG and in London, United Kingdom.
BaFin has no information indicating that LLB Swiss Investments AG, a company registered in the Swiss commercial register and with the Swiss Financial Market Supervisory Authority (FINMA), has any connection to the offers on the amgfinancialeu.com website or to the operator of the website. It is assumed that this is an identity fraud at the expense of LLB Swiss Investments AG.
Recently, BaFin has become aware of other websites with almost identical content, which BaFin has also warned against. In all cases, the presentation on the websites begins with the following sentence: “Step up your trading with [name of operator]”.
Anyone offering financial or investment services or crypto-securities services in Germany requires the permission of BaFin. However, some companies offer such services without the necessary permission. You can find information on whether a particular company is authorized by BaFin in the company database.
BaFin's information is based on Section 37 (4) of the German Banking Act (KWG) and Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).
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.
