This week, the German Federal Financial Supervisory Authority (BaFin) announced that Teredo Group Ltd, a broker located in Saint Vincent and the Grenadines, did not comply with the requirements of the German Banking Act by conducting banking business or providing financial services without authorization and was not subject to BaFin's supervision.

Regulatory Information This Week: BaFin Investigates Unauthorized Broker Teredo Group Ltd in Germany

Teredo Group Ltd operates under the assetshaus.com domain name, and the company's instructions as a responsible company can only be found on English websites. BaFin clearly stated that the name and logo were used without authorization, which gives reason to suspect that criminals are engaging in fraudulent activities.

The New Zealand Financial Supervisory Authority (FMA) recently issued a warning on its official website, warning against potential fraud suspects in entity Bitengecko. FMA has noted that the Belgian Financial Market Supervisory Authority (FSMA) has included Bitengecko on its list of "fraudulent online trading platforms".

According to FSMA's warning, the behavior of the fraudulent platform Bitengecko mentioned above is very positive. They even tried to persuade the victims to allow them to remotely control their computers for certain fund transfers.

In addition, Bitengecko is also trying to persuade victims to invest increasingly high amounts. According to reports received by FSMA, victims investing on this fraudulent platform either cannot recover their money or simply no longer have any information about the platform they are investing in.

Entity Name: Bitengecko

Website: www.bitengecko.com

Address: 51 Fitzwilliam Square West, Dublin 2, D02 X504, Ireland; Chemin du Canal 5, 1260 Nyon, Switzerland

Tel:+41449746548+ four hundred and forty-two billion thirty-nine million eight hundred and seventy-seven thousand six hundred and eighty

Note: The warnings issued by FSMA can be found in the following link:

https://www.fsma.be/en/warnings/fraudulent-online-Trading-platforms-fsma-updates-its-list-suspicious-sites-7

The Financial Commission, an independent external dispute resolution (EDR) organization, added brokerage firm GrowthCapAssets to its warning list this week due to recent complaints from investors about the company and its related websites.

After reviewing the information submitted by the broker's clients, the committee has determined that GrowthCapAssets and its website are indeed suspected of investment fraud.

Therefore, the Financial Committee stated that it is not recommended for investors to engage in transactions with the entity or individuals claiming to represent the broker on social media.

Finally, the Dutch Financial Market Authority (AFM) issued a warning this week to investment service provider GRINTA-INVEST LIMITED (Grinta Invest) that Dutch consumers may engage in high-risk financial product transactions on the platform.

The Dutch AFM pointed out that Grinta Invest operates in the country without authorization from AFM or the Dutch Central Bank (DNB). The company's domain name is www.grinta-invest.com.

In addition, the regulatory agency stated that the website of Grinta Invest appears to have been closed since October 28, 2021. AFM has received notification from Grinta Invest's Dutch client that they are unable to access their investment account.