Germany's BaFin warns public against Two Firms

The German financial regulator, BaFin, issued a warning against two Unlicensed organizations. The authority alleged Taurumax.com and ApolloKapital.com for Illegally offering Financial Services in Germany.

Entities in Germany that provide banking, financial, or investing services require BaFin authorization to operate legally. However, these two entities do not follow this criteria. This regulatory system seeks to protect investors' interests while also maintaining the integrity of the financial sector.

The authority said: “ApolloKapital Ltd. In the imprint of the website, it describes itself as a subsidiary of Apollo Investment Holdco Sarl and, in this context, provides a commercial register number. A company, Apollo Investment Hodco SA, is registered under this number. However, the corporate relationship described cannot be confirmed; this is probably a case of misuse of identity.” The regulator accuses Taurumax.com, a company allegedly based in Frankfurt and Vienna, of providing financial and investing services without licensing.

About BaFin

BaFin is Germany‘s financial regulator and is responsible for ensuring the stability and integrity of the German financial system. The Federal Financial Services Authority (BaFin) was founded in 2002 as the primary regulator of Germany’s financial markets and institutions. BaFin's primary responsibility is to supervise and regulate German financial institutions to ensure the stability and safety of the whole financial system.

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