Germany’s Federal Financial Supervisory Authority (BaFin) warns consumers about the website pepperstone.vip.
According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation. BaFin expressly points out that the licensed securities institution Pepperstone GmbH does not operate the website. This is a case of identity theft.
Sometimes entities that are unauthorised try to lure victims by abusing the details (logo, name, address, etc) of licensed companies. In reality, the unauthorised entities (also known as clones) have nothing to do with the authorised businesses.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
