09 January 2019

Swiss Convene GmbH: BaFin orders the cessation of unauthorized payment services

As of 28 November 2018, BaFin ordered Swiss Convene GmbH, Frankfurt am Main, to cease and desist from conducting money remittance business.

Swiss Convene GmbH accepts funds from private persons on its own accounts for the sole purpose otransferring these funds to mainly foreign accounts of companies situated abroad. Among these companies are the owners of unlicensed trading platforms as www.cfdpremium.com.

By law, the order is immediately enforceable, but not yet final.

Source: BaFin

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