Aggregated News From Investment Management Regulators

MFSA Warning – Open Banking Third-Party Platforms – MFSA

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The Malta Financial Services Authority (“MFSA” or “Authority”) wishes to alert the public that it has become aware of a number of online platforms promising profitable and secure investments with alleged ‘partner banks’, some of which are not aware of the fact that these third-party service providers are using their logos to advertise their products or services.

The Authority would like to inform the public that online platforms such as www.sparpiloten.ch, www.onlinegeldanlagen.de and www.zinspilot.de amongst others, are NOT licensed or otherwise authorised by the MFSA to provide any banking services or other financial services which are required to be licensed or otherwise authorised under Maltese law.The MFSA strongly advises consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.

Before consenting to share your personal or account details with any third-party service provider, it is important to verify its identity and ensure that it is regulated by a National Competent Authority.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.com.mt/pages/licenceholders.aspx.

Regulator Information

Abbreviation: MFSA
Jurisdiction: Malta

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