Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English
The Federal Financial Supervisory Authority (BaFin) warns consumers about services offered by SafeTrades, London, UK, on its website safetrades.com. BaFin has information that the company is offering financial services without the required authorisation. The company does not provide its full company name or legal form.
Financial services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the required authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.
Theinformation 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.