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The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website capitalmgm.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The operator refers to itself on the website as CapitalMGM, CapitalMGMTM, CapitalMGM (UK) or CapitalMGM Limited. The website lists a business address in London, United Kingdom, and claims that the company is subject to regulation in Cyprus. However, no company by the name of CapitalMGM is registered with the Cyprus Securities and Exchange Commission (CySEC).
Anyone conducting banking business and providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
