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FAD Berlin Consult UG (haftungsbeschränkt), Berlin: BaFin Issues Cease And Desist Order To Immediately Stop Unauthorized Money Remittance Business

Date 19/03/2021

As of 05 November 2020, BaFin issued a cease and desist order to FAD Berlin Consult UG (haftungsbeschränkt), Berlin, to stop the un-authorized money remittance business immediately.

FAD Berlin Consult UG (haftungsbeschränkt) accepts funds from private persons on its own accounts for the sole purpose of transferring these funds to mainly foreign accounts of companies based abroad. Among these companies are the owners of unlicensed tra-ding platforms as

The administrative order is final.

Additional information

On­line trad­ing plat­forms: BaFin warns against un­li­censed providers