The Federal Financial Supervisory Authority (BaFin) has issued another consumer warning concerning KapitalWert, a company accused of offering unauthorized banking and financial services through a new website. This announcement was made in a news release on January 16, 2025.
According to BaFin, the warning pertains to KapitalWert's new website, marktkapital.com. This follows previous warnings about its other websites, kapitalwert.pro and markt-kapitalwert.com, issued in October and December 2024. BaFin suspects that the operators of these websites are providing unauthorized financial and investment services. The content of marktkapital.com reportedly mirrors that of previously flagged platforms.
Section 37 of the German Banking Act (KWG) empowers BaFin to intervene against unauthorized banking activities or financial services. If a company operates without necessary licenses or engages in prohibited transactions, BaFin can order the cessation of operations and appoint a liquidator for settlement. Furthermore, BaFin has the authority to inform the public if a company is suspected or found to be engaging in unauthorized activities. Should such information prove false, BaFin is required to correct it, as said by the Federal Ministry of Justice of Germany.
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BaFin oversees the stability and integrity of Germany's financial system by supervising banks, financial services institutions, payment institutions, e-money institutions, insurers, asset managers, and related entities. Its responsibilities include solvency supervision and market supervision to ensure fair conditions while preventing misuse for money laundering or terrorist financing. Since May 1, 2002, following the merger of three federal supervisory offices, BaFin has been responsible for regulating and supervising the financial sector.