Erscheinung:27.03.2024 | Topic Unauthorised business, Consumer protection swiftintfinance.com: BaFin investigates Swift International Finance Bank
The Federal Financial Supervisory Authority (BaFin) warns consumers about the offers of the Swift International Finance Bank. BaFin has infor-mation that the operator of the website swiftfinance.com is conducting banking business and providing financial and insurance services without the required authorisation. There is no connection to the authorised British company Swift Finance Ltd.
Banking business, financial and insurance services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. 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.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 308 (7) of the German Insurance Contract Act (Versicherungsaufsichtsgesetz - VAG).
