As of 8 April 2021, BaFin issued a cease and desist order to WebMaster Solutions GmbH to stop and wind up the unauthorized money remittance business immediately.
WebMaster Solutions GmbH 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.
The administrative order is immediately effective and enforceable though it may still be subject to judicial review.
Additional information
Online trading platforms: BaFin warns against unlicensed providers