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  • BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    BaFin cease-and-desist order against unauthorized payment processor Fronter Decision

    Fronter Decision GmbH, registered in Offenbach, Germany, was entered into the commercial register in April 2019. The Ukrainian Nikitin Oleksiy was appointed as the sole managing director. In fact, many of the German money laundering companies have Ukrainian directors. As non-EU citizens, these are hardly legally enforceable. BaFin issued a cease-and-desist order against the company in November 2020, which is now final.

     
  • BaFin issued a cease-and-desist order against a dissolved laundromat

    BaFin issued a cease-and-desist order against a dissolved laundromat

    Many German companies are acting as unauthorized payment processors for scammers. The law calls it money laundering. Lipans Smart Consult GmbH was one of those laundromats. BaFin issued a Cease-and-Desist Order but the company has already been dissolved months ago.

     
  • Regulator Warnings

    Broker Website Legal Entity Regulator British Bitcoin Profits https://marketing4you.tech/px4Mqn? not given FCA Ubrokers.com/Ubrokers www.ubrokers.com, www.ubrokers.com/eu Capital Securities S.A. FCA Mango Money Markets mangomoneymarkets.com Digital House...

     
  • BaFin issues cease-and-desist orders against MorganTrust and 10CryptoMarket scams

    BaFin issues cease-and-desist orders against MorganTrust and 10CryptoMarket scams

    German BaFin has issued two cease-and-desist orders against two well-known scam operators – GreenRiver OÜ, the Estonian operator of the broker scams MorganTrust (www.morgantrust.eu), and...

     
  • BaFin issues cease-and-desist orders against MorganTrust and 10CryptoMarket scams

    BaFin issues cease-and-desist orders against MorganTrust and 10CryptoMarket scams

    The German regulator BaFin has issued two cease-and-desist orders against two well-known scam operators - GreenRiver OÜ, the Estonian operator of the broker scams MorganTrust (www.morgantrust.eu), and the 10CryptoMarket (www.10cryptomarket.com) scam of the Joshua Group. The latter is a Ukrainian operated scam on the notorious PumaTS (Leverate) whitelabel provider against which several other regulators have already issued investor warnings.

     
  • BaFin issues Cease and Desist orders against unauthorized German payment processors

    BaFin issues Cease and Desist orders against unauthorized German payment processors

    On October 19, 2020, German regulator BaFin issued two Cease and Desist Orders against the two unauthorized payment processors ION & Maga Consulting GmbH and Premium Service ECN GmbH. Both of them processed bank transfers for the illegal brokers BlueTrading, CoinBrokerz, and TradeDAX respectively.

     
  • BaFin employees traded with Grenke shares and derivatives

    BaFin employees traded with Grenke shares and derivatives

    BaFin had already received criticism because, despite the numerous reports and negative reports and ongoing investigations, employees of the regulator were trading in shares and derivatives of the meanwhile collapsed Wirecard. According to information from the German Ministry of Finance, BaFin employees also traded in shares and derivatives at the German company Grenke AG, despite a BaFin special audit due to accusations of balance sheet manipulation and money laundering.

     
  • BaFin – Final Cease-and-Desist order against illegal payment processor Global Data Conduct

    BaFin – Final Cease-and-Desist order against illegal payment processor Global Data Conduct

    Germany is known in the international scam and cybercrime scene for its illegal payment processors. Scammers are fond of their exceptional bank wire services. The BaFin today announced that the Cease-and-Desist order issued in July 2020 against Global Data Conduct GmbH is final and conclusive. This illegal payment processor facilitated the broker scam TradesFX .

     
  • BaFin – Final Cease-and-Desist order against illegal payment processor Global Data Conduct

    Germany is known in the international scam and cybercrime scene for its illegal payment processors. Scammers are fond of their exceptional bank wire services. The BaFin today announced that the Cease-and-Desist order issued in July 2020 against Global Data Conduct GmbH is final and conclusive. This illegal payment processor facilitated the broker scam TradesFX (www.tradesfx.com).

     
  • German BaFin issues Cease-and-Disease order against TopInvestus – again!

    On October 9, 2020, the German regulator BaFin again ordered the discontinuation of the TopInvestus broker scam. Already in May 2020, the regulator issued a cease-and-desist order against the scam which was then operated under the domain www.topinvestus.com by Silverdale Holdings Ltd, British Virgin Islands, and Vindigo Systems OÜ, Estonia.