Erscheinung:14.03.2025 | Topic Unauthorised business, Consumer protection Fake bank: Bafin warns consumers about website mabanco.com
The Financial Supervisory Authority BaFin warns against offers on the website mabanco.com. Contrary to the presentation on the website, there is no financial institution in Germany under the name of MA BANCO. Nor does MA BANCO, which is allegedly based in Toulouse, have permission to address the German market. The website is almost identical to the websites fe-bank.com und bancottimo.com, which BaFin already warned about on 2 September 2024.
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 (Kreditwesengesetz – 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.
