Erscheinung:30.04.2025 | Topic Unauthorised business, Consumer protection elevate-cap.co: BaFin investigates Elevate Capital LTD
The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Elevate Capital LTD and the services it is offering. BaFin has information that the company is offering banking business and/or financial services on its website elevate-cap.co without the required authorisation. The company is not supervised by BaFin.
Banking business, financial services and cryptoasset services may only be offered in Germany with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
BaFin is issuing this information on the basis of 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.
