BaFin has issued a warning for an unauthorised firm
The Federal Financial Supervisory Authority (BaFin) has issued a warning to inform investors and public that the firm Karatbars International GmbH has no authorisation pursuant to section 32 of the German Banking Act (KWG)
BaFin informs that it has not granted authorisation to Karatbars International GmbH, Stuttgart, to conduct its business activities. The company is thus not subject to supervision by BaFin.
On several English-language websites which are directly linked to Karatbars International GmbH’s homepage at www.karatbars.com, it is claimed that “Karatbars International” is recommended and/or endorsed by BaFin. This is not the case. BaFin does not recommend financial services providers or investment products.
Source: BaFin
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