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BaFin suspects the operators of the website buchecoinvestment.com of offering consumers financial and investment services without the required authorisation. The unknown operators do not have authorisation under the German Banking Act (Kreditwesengesetz – KWG) or the German Investment Firm Act (Wertpapierinstitutsgesetz – WpIG) to offer these services.
The aforementioned website is not operated by Buche-Co Investment KG (Lilienthalallee 39, 80939 Munich). This is a case of identity fraud.
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt) 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.
Background information: Companies that offer financial or investment services in Germany require authorisation from BaFin under the KWG and/or the WpIG to provide these services. 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 KWG.
