WIKIFX REPORT: Trading platform forbschain.com: BaFin investigates Forbschain
Abstract：In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Forbschain, domiciled in Luxembourg, has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.
The information provided on the website operated by Forbschain, forbschain.com, and the information and documents available to BaFin give reasonable grounds to suspect that the company is conducting banking business/providing financial services in the Federal Republic of Germany without the required authorisation.
Under the KWG, authorisation is required in order to conduct banking business or provide financial services in Germany. However, some companies operate without the necessary authorisation. Information on whether a particular company has been authorised by BaFin can be found in BaFins database of companies.
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
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₹80 Crore Interstate Cyber Fraud Run by ‘Digital King’ Busted
In another crackdown on an illegal investment operation allegedly carried out by a gang led by a man popularly known as Digital King, the Kanpur police have busted an INR 80 crore interstate cyber fraud, with the help of Naubasta police and Lucknow STF. Upon a close investigation, the fund trail was allegedly found linked to an account operated by Karan Kasera, alias Digital King, and his aide Gulshan Kumar, alias Kaira, in Delhi.
Alert! An Ahmedabad CA Lost 8.30 Lakh in a Forex Trading Scam - Full Case Details
In the latest forex trading scam, a 42-year-old Chartered Accountant (CA) from Naroda, Ahmedabad, has allegedly been defrauded of INR 8.30 lakh by unidentified individuals. The victim, while filing a complaint with the city’s Cybercrime police on April 14, 2026, stated to have come across an advertisement on social media and got added to a messaging group claiming to offer share/options trading leads and display false profit details of other investors to gain trust. The individual added that he was made to invest in forex by depositing INR 50,000 through a QR code. After depositing, the user was shown a fake profit of INR 3.94 lakh. The accused individuals also sent him an investment file report demonstrating huge profits. However, to withdraw the same, the complainant was allegedly told to pay forex charges. To know more, read this article further.
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