BaFin Warns Consumers About Unauthorised Financial and Crypto Services

The Federal Financial Supervisory Authority (BaFin) warns consumers in Germany about several websites and operators offering financial, investment, or cryptoasset services without the required authorisation. These entities may present themselves with professional-looking websites, claim foreign registrations, or impersonate legitimate companies, but BaFin has no record of them being supervised or licensed in Germany. Consumers are urged to exercise extreme caution and to verify the authorisation status of any provider via BaFin’s public company database.

These operators frequently use misleading business names, fabricated addresses, or references to foreign regulatory authorities to appear legitimate. Some claim registration with supervisory authorities in Switzerland, the UK, Cyprus, or Spain, while others impersonate established firms or clone corporate identities. In certain cases, these websites are linked to identity fraud, misleading consumers into believing they are dealing with legitimate institutions. Engaging with unlicensed providers carries high risk, as investors have no legal protection, no deposit guarantees, and limited recourse if fraud occurs.

BaFin reminds the public that any individual or company conducting banking, investment, or cryptoasset services in Germany must hold explicit authorisation. Consumers should not transfer funds, share personal information, or open accounts with unauthorised operators.

BrokersView Reminds You

The Federal Financial Supervisory Authority (BaFin) is Germany’s chief financial regulator, overseeing banking, insurance, and securities sectors. It safeguards market integrity, enforces compliance, and protects investors from financial misconduct.

Click to find more brokers regulated by the BaFin.

Domian	Notable Observations	website
glenfordcap(.)com	Claims Geneva address; Saint Lucian law; UK registration false
Advanziagroup(.)io	Offers banking and financial services without BaFin authorisation
blitz365finance(.)org	Offers financial/crypto services; impersonates Swiss company
givhalbank(.)com	Claims Cayman Islands cooperative bank; legal form unclear
deumarket(.)com	Claims UK, Spain, Cyprus registration; no legal info; identity fraud against FXPRO