Banking, financial services, and crypto asset services in Germany are only allowed to be offered with approval from BaFin. However, some companies offer such services without the necessary authorization. Information on whether a specific company is covered by BaFin can be found in the company database.
The information from BaFin is based on § 37 para. 4 of the Banking Act (KWG) and § 10 para. 7 of the Crypto Market Supervision Act.
What you should know!
BaFin, the Federal Criminal Police Office, and the public prosecutors generally advise consumers to be extremely cautious when investing money on the internet and to thoroughly inform themselves beforehand to recognize fraud attempts in time.
In the «Recognizing Financial Fraud» section, you will find current warnings from BaFin. Inform yourself about unauthorized companies and learn how to protect yourself from further financial market fraud cases.
