Erscheinung:11.04.2025 | Topic Unauthorised business, Consumer protection Axion Alliance: BaFin warns against website axxionallliance.com (previously: axion-alliance.com)
The financial supervisory authority BaFin warns against trading platform Axion Alliance. According to its findings, financial, investment and crypto asset services are provided by Axion Alliance without the required authorisation. The services are not actually offered by Axxion S.A. or Universal-Investment-Gesellschaft mbH or its affiliated companies. The company is not supervised by BaFin or the alleged European Financial Authority (FINAEU). There is no FINAEU supervisory authority and it does not supervise companies that operate in the financial sector.
FINAEU was already a subject of a warning issued by BaFin on 29 August 2024.
Anyone conducting banking business or providing financial, investment or crypto asset 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) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomaerkteaufsichtsgesetz).
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.
