BaFin Investigates Unauthorised Entity Inertia Finance

In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Inertia Finance has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.

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The information and documents available to BaFin give reasonable grounds to suspect that the company is conducting banking business/providing financial services in Germany without the required authorisation.

The persons responsible initiate contact with consumers by phone; calls are usually made from a phone number with the Berlin area code (030). In line with the practices typical in such cases, the company promises huge profits from "automated crypto trading", but these are never paid out to consumers. The company's "financial advisors" can then no longer be reached.

Under the KWG, authorisation from BaFin is required to conduct banking business or provide financial services in Germany. However, some companies operate without the necessary authorisation. Information on whether a particular company has been authorised by BaFin can be found in BaFin's database of companies.

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.