BaFin and DVAG warn: Wave of fraud in the financial sector threatens investors!

BaFin and DVAG warn: Wave of fraud in the financial sector threatens investors!

On May 28, 2025, the Federal Financial Supervisory Authority (BaFin) and Deutsche Vermögensberatung (DVAG) warned of an alarming wave of fraud in the financial sector. Scammers disguise themselves as legitimate financial service providers and contact unsuspecting investors via email, telephone or messaging services such as WhatsApp. These cybercriminals could cause investors to face a “total loss” of their funds, as BaFin emphasizes.

Numerous warnings about unauthorized financial transactions were published as early as April 2025. Fraudsters have created fake websites, including an identical DVAG site featuring images of well-known football coach Jürgen Klopp. Other fake websites include, among others dvagk.de, bcfvermoegen.com and investaqgpt.com.

Warnings from BaFin and DVAG

BaFin and DVAG particularly emphasize that these fraudulent websites and the companies behind them do not have the necessary authorizations for banking transactions. They also provide false information. Victims of these scammers are often contacted unsolicited and given what appears to be insights into non-existent investment accounts whose representations are simulated by fraud software. After requesting a withdrawal, investors often lose contact or are required to make additional payments.

BaFin, founded in 2002, is the central supervisory authority for the financial market in Germany. It monitors banks, insurance companies, financial service providers and securities markets. The scams also include fake comparison portals designed to inspire trust, as well as “cold calling,” in which investors are offered non-existent pre-market stocks.

Identity theft and fraud by fake BaFin employees

BaFin also warns against misuse of its name by fraudsters posing as employees of the authority. In this context, consumers receive fake letters with the BaFin letterhead or logos. It is important to note that BaFin does not initiate any unsolicited contacts with private individuals. Communication takes place exclusively via official channels and email addresses ending in “@bafin.de”. All other domains are not legitimate.

BaFin reiterates its call on consumers to ignore such unsolicited contact attempts and report them to the police. In addition, complete payment requests to supposed BaFin accounts should be ignored. The risk of fraud is compounded by identity theft, particularly when victims are asked to provide copies of ID.

Consumer protection measures

To protect yourself from financial fraud, BaFin recommends a checklist:

• Nicht auf unaufgeforderte Anrufe, E-Mails und Nachrichten reagieren.
• Keinen Zugriff auf persönliche Geräte erlauben.
• Die Seriosität der Anbieter stets überprüfen.
• Besondere Vorsicht bei unrealistischen Gewinnversprechen und Zeitdruck.

Consumers should be aware of ongoing fraud developments. It is advisable to remain vigilant and, if in doubt, contact the BaFin hotline on 0800 2 100 500 or clarify the matter from abroad on +49 (0) 228 299 70 299. The current wave of fraud highlights how important it is to be informed about fraudulent practices and act accordingly.