MIL-OSI Translation: BaFin is investigating HCB Holding


MIL OSI translation. Region: Germany/Germany –

Source: Federal Financial Supervisory Authority

In accordance with Section 37 (4) of the German Banking Act (KWG), BaFin clarifies that HCB Holding, with its registered office in Winchester, United Kingdom, does not have a license under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.

HCB Holding states on its website that it has been licensed by the Deutsche Bundesbank and BaFin since January 1, 2016. This does not correspond to the facts.

The content of the website operated by HCB Holding justifies the assumption that the company offers banking transactions and financial services in Germany without permission.

Providers of banking transactions or financial services in Germany require a license under the KWG. However, some companies trade without the required permission. Information on whether a specific company is licensed by BaFin can be found in the company database.

The BaFin, the Federal Criminal Police Office and the State Criminal Police Offices guess Consumers to be extremely careful when investing on the Internet and to do thorough research in advance in order to identify attempts at fraud in good time.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

MIL Translation OSI