BaFin Warns Investors About Three Websites, Flags Firm Impersonation

Germany’s Federal Financial Supervisory Authority (BaFin) recently warned investors about robertbeer(.)org, saying it suspected the site’s operators of offering investment services without authorisation and had identified the misuse of a German firm’s identity. The warning followed separate alerts about wt-workspace(.)io and privaninvestment(.)com over suspected unauthorised financial and cryptoasset services.

BaFin flags misuse of a German firm’s identity

In its warning about robertbeer(.)org, BaFin said the website’s operators had no connection to Robert Beer Management GmbH, the Parkstein-based firm whose identity they used.

Two sites flagged over cryptoasset services

In its WT Workspace warning, BaFin said it suspected the site’s operators of offering financial, investment and cryptoasset services without the required authorisation. Its separate Privan Investment warning concerns suspected unauthorised financial and cryptoasset services.

Investor warning

Before transferring money or sharing identity documents, check the provider’s legal name and permissions in the regulator’s company database. If a website claims to represent an authorised firm, use independently verified contact details to ask the firm whether it operates the site. For questions about a broker or a suspicious investment offer, visit BrokersView.

Related Reading

• BaFin warns about Elyrion Wealth, online trading platforms and Kronberg Finanzen
• BaFin issues crypto warning over FinanzForensik
• BaFin warns about Vertex Capital Group and a fake regulator