MIL-OSI Economics: BaFin warns consumers about website

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Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

The Federal Financial Supervisory Authority (BaFin) warns consumers about the website According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.

The website operator is simply referred to as “Immediate Core”, and there is no information regarding its legal form. The website does not contain a legal notice or any information regarding the company’s registered office.

Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary 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).

Please be aware

BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) 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.

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