Erscheinung:25.02.2025 | Topic Unauthorised business, Consumer protection BaFin warns against “Xyron Beam AI”
The financial supervisory authority BaFin warns against “Xyron Beam AI”. According to its findings, unknown providers offer under this name financial and investment services as well as crypto-value services on the Internet without permission.
Anyone offering financial or investment services or crypto-securities services in Germany requires the permission of BaFin to do so. However, some companies offer such services without the required permission. Information on whether a particular company is authorized by BaFin can be found in the database of companies.
The information provided by BaFin 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.
