WhatsApp groups and trading app: BaFin warns consumers about identity theft in connection with the app “PayDenPro”
| Germany
Summary
According to information available to the Federal Financial Supervisory Authority (BaFin), unknown persons are using WhatsApp groups and chats to contact German investors. The initiators of these WhatsApp groups purport to be the US company “Payden & Rygel”. This is a case of identity theft misusing the names of real employees.