Erscheinung:07.03.2025 | Topic Unauthorised business, Consumer protection menara-capital.pro: BaFin warns of website and points to suspected identity theft
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Profit Phantom and the services it is offering. BaFin suspects the unknown operators of the website profitphantom.io of offering consumers financial, investment and cryptoasset services without the required authorisation.
The German Federal Financial Supervisory Authority (BaFin) warns against the website menara-capital.pro. According to its findings, financial and investment services as well as crypto-security services are offered there without authorisation.
The operator of the website, which appears without mentioning a legal form but only under the name Menara Capital, states that it is based in London, United Kingdom. BaFin has no information indicating that the companies Menara Capital Ltd or Fortis Securities Limited, both of which are or were registered with the UK Financial Conduct Authority (FCA), are associated with the website menara-capital.pro and the offers made there. Rather, it must be assumed that these are cases of identity theft.
Anyone offering financial or investment services or crypto-value services in Germany requires the permission of the BaFin. However, some companies offer such services without the necessary permission. Information on whether a particular company is authorised by the 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).
