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Aggregated News From Investment Management Regulators


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Trading platform invest365.global: BaFin investigates LLC “Fort Securities BLR”

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In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin wishes to clarify that LLC “Fort Securities BLR”, Belarus, has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not subject to BaFin’s supervision.

The information provided on the website operated by LLC “Fort Securities BLR” (invest365.global) and the information and documents available to BaFin give reasonable grounds to suspect that the company is conducting banking business and/or providing financial services in Germany without the required authorisation.

The website gives a postal address in Belarus and – without any additional explanation – an address in London, United Kingdom.

In its e-mails to investors, LLC “Fort Securities BLR” claims to have a working relationship with BaFin. BaFin wishes to make clear that this is not the case; the statement is false. The company also claims to have an office in Frankfurt am Main.

Under the KWG, authorisation is required to conduct banking business or provide financial services in Germany. However, some companies operate without the necessary authorisation. Information on whether a particular company has been authorised by BaFin can be found in BaFin’s database of companies.

BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that anyone seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to avoid becoming the victim of fraud.

This news item was originally published by the Federal Financial Supervisory Authority (BaFin DE). For more information, see the Source Link.

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