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Bravo! German BaFin warns against OIL PROFIT fraud campaign

BaFin warns against Oil Profit fraud campaign
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FinTelegram has warned against the OIL PROFIT campaign several times. The German BaFin follows and issued a warning against the German mutation (www.öl-profit.de and www.oil-profit.de) of the fraudulent marketing campaign. Such campaigns are used to promote illegal broker activities and scams. Usually, victims who register with these fraudulent campaigns are redirected to the payment page of the respective scams and illegal brokers. Additionally, the victims’ data is stolen and misused.

BaFin is of the opinion that the websites of the OIL PROFIT campaigns offer unauthorized banking transactions or financial services in Germany. Providers of banking transactions or financial services in Germany require a permit under the German Banking Act (KWG). However, some companies act without the required permission. BaFin does not address the fraud aspect at all in its warning. In fact, that is not its responsibility either. The law enforcement agencies are responsible for fraud. Stay far away from fraud campaigns like OIL PROFIT or Bitcoin Buyer. In any case, you will save yourself from having your data stolen.

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