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The Federal Financial Supervisory Authority (BaFin) warns consumers about the company Cansa Limited and the services it is offering. According to information available to BaFin, the company that is allegedly domiciled in the island country of Dominica is offering financial and investment services on its website xcgin.com without the required authorisation. The website also states an address for the company in Amsterdam, the Netherlands.
Anyone conducting banking business or providing financial, investment or payment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation 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.
