Erscheinung:17.02.2025 | Topic Unauthorised business, Consumer protection PNG Group: BaFin warns about website png-group.net
The Financial Supervisory Authority BaFin warns against the online trading platform png-group.net. According to its findings, PNG Group offers via its website bank business, financial and investment services without 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 37 (4) of the German Banking Act (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.
