BaFin Issues Warning Against Unauthorized Trading Platform Capital Professionals Reserve

The German Federal Financial Supervisory Authority - BaFin announced today that Capital Professionals Reserve, Saint Vincent and the Grenadines, has not been granted authorisation under the German Banking Act to conduct banking business or provide financial services in the country.

Capital Professionals Reserve is operating under the domain cp-r.net, on which the information offered gives reasonable grounds to BaFin's determination. Moreover, the German financial watchdog noted that the indicated company was not supervised by BaFin.

As such, BaFin, the German Federal Criminal Police Office and the German state criminal police offices 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.

At the beginning of this month, Fazzaco reported that BaFin has imposed an administrative fine of €290,000 on The Vanguard Group, Inc.​, one of the world's largest investment management companies.