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The Federal Financial Supervisory Authority (BaFin) has issued a warning against the website amgfinancialeu.com, citing its provision of financial, investment, and crypto-security services without proper authorization. This announcement was made in a news release on February 18, 2025.
According to BaFin, the website offers unauthorized financial and crypto-asset services. The operator is identified only as AMGfinancialEU and claims to have addresses in Zurich and London. However, there is no evidence linking the site to LLB Swiss Investments AG, leading BaFin to suspect identity fraud. Similar unauthorized websites have been noted, all beginning with the phrase "Step up your trading with [name of operator]." In Germany, financial service providers must receive BaFin approval, and unauthorized entities can be verified through BaFin’s company database.
The German Crypto Markets Supervision Act (KMAG), effective from December 27, 2024, introduces regulatory measures for overseeing crypto markets in Germany. It emphasizes market transparency, operational resilience, and compliance with European crypto regulations. The KMAG mandates that crypto service providers secure licenses, maintain robust systems, and ensure transparent practices within the sector. This framework aims to support secure and compliant market operations in alignment with EU standards.
