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As of 19 October 2021, BaFin issued a cease and desist order to El-Do-Buy Marketing GmbH i.G. to stop and wind up the unauthorized money remittance business immediately.
El-Do-Buy Marketing GmbH i.G. accepts funds from private individuals on its business accounts and forwards them to a recipient in China.
The administrative order is immediately effective and enforceable though it may still be subject to judicial review.
