BaFin Investigates Unauthorized Entity BDS Markets

Pursuant to § 37 (4) Kreditwesengesetz (Federal German Banking Act – hereinafter being referred to as „KWG"), BaFin would like to clarify that BDS Markets, 6th Floor, Tower 1, Nexteracom Building, 72201 Ebène, Mauritius have no authorization under the KWG to conduct banking business or provide financial services in Germany. The company also operates as BDSwiss Markets.

The conduct of banking business as well as the provision of financial services in Germany require prior written authorization by BaFin. Information on whether a particular company has been authorized 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 anyone seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to avoid becoming the victim of fraud.