Thank You, BaFin! German Watchdog Orders StronIT and Postbank To Return Money To Investors Of Illegal Broker Schemes Like Bluetrading

The EFRI & FinTelegram campaign against illegal Payment Services Providers (PSP) is gaining momentum. BaFin has responded to the numerous complaints from victims of illegal brokers and connected PSP such as StronIT. The latter was one of the PSPs in the BlueTrading & Markets-Trading scam. Both are covered by EFRI campaigns.

• ONE: BaFin officially ordered StronIT to terminate the unauthorized payment services business;
• TWO: BaFin ordered StronIT and the German Postbank to repay the funds to the investors. StonIT had its bank account with the German Postbank;
• THREE: BaFin has also informed the responsible public prosecutor’s office and police about the situation;

The German financial market watchdog BaFin finally took action against the illegally operating German PSP StronIT. This illegal (non-authorized) PSP was involved in the BlueTrading scam and one of the fraud facilitators of the scheme.

Dear Sir,
I received your request concerning StronIT GmbH.
 
You asked me to advise further on the process to recover your money from Postbank. I am afraid I cannot offer any help in this matter.
 
As you know I ordered StronIT GmbH to cease and desist from conducting money remittance business.
The company accepted funds from private persons on its own accounts for the sole purpose of transferring these funds to mainly foreign accounts of companies situated abroad.
 
These funds have been transferred to companies abroad without delay, so that there was not much money left when I ordered Postbank not to let StronIT GmbH transfer any more money. Recently I instructed Postbank to pay these funds “return to sender” following the scheme “last in – first out”. I do not have any information, who will receive money back.
 
I am in contact with the German public prosecutors and police about this case.
 
You should contact your local police so maybe they can collect all the cases that happened in your country.
Best Regards

XXXXX
Senior Officer
Federal Finacial Supervisory Authority (BaFin)
Integrity of the Financial System

BaFin Email to BlueTrading Victim

Let’s Act Together – Thank You, BaFin

We would like to say thank you to the people that complained with BaFin, support our EFRI PSP Class Action Campaign and, last but not least, the German BaFin and its people. Together we can make a difference and destroy those illegal broker & payment schemes. Let’s not win these scammers and fraudsters! Together we can get them.

Report Payment Services Provider

If you are aware of any payment services provider (PSP) working with illegal broker schemes please report them into the EFRI PSP Class Action Campaign.