Erscheinung:04.12.2024, Stand:updated on 04.02.2025 | Topic Unauthorised business, Consumer protection q-festgeld.de: BaFin warns against overnight and fixed-term deposit offers from Q Finance
The Financial Supervisory Authority BaFin warns against offers from the q-festgeld.de website. It is suspected that the operators of the website are providing banking transactions and financial or investment services without the required authorisation. Q Finance aka Q Finanz, allegedly based in Frankfurt am Main, offers the opening of call and fixed-term deposit accounts with German and foreign institutions. Based on the information available to date, it appears likely that the identity of Schröder Consulting GmbH, Frankfurt am Main, has been misused. There is no connection whatsoever with the Q-Finanz GmbH, Kerpen.
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.
