Suspected identity theft targeting TFI Markets Ltd, Cyprus
BaFin has become aware that a company operating under the name of “TFI Trade Limited” and allegedly domiciled in Cyprus is offering investors in Germany the opportunity to purchase shares in Dr. Ing. h.c. F. Porsche Aktiengesellschaft (“Porsche AG”). In this context, alleged representatives of the company claim that TFI Trade Limited is a subsidiary of TFI Pcl. and that it holds a licence issued by the “Cyprus Securities and Exchange Commission”. This claim is also made on the websites operated by the company, tfitrade.com and tfitrade24.com, where customers are offered further opportunities to trade in other financial instruments.
BaFin would like to make clear that TFI Trade Limited and TFI Pcl. are not authorised to offer shares for sale or to conduct banking business or provide financial services. Furthermore, there are no indications that the company TFI Markets Ltd, which is authorised and supervised in Cyprus, is behind the above-mentioned offers of shares in “Porsche AG”. Rather, TFI Markets Ltd is likely the target of identity theft. The offer of shares in “Porsche AG” did not come from Volkswagen AG directly or from any of its subsidiaries.
There has recently been an increase in reports of attempted fraud where investors are offered shares in well-known companies. However, these shares are not delivered to the clients after payment is made, and the offerors can no longer be reached; in some cases, the offered shares do not even exist.