Fraudsters Pose as Invesco to Offer Fake Trading Accounts in Germany, Regulator Warns

Germany’s financial regulator BaFin is warning the public that scammers are misusing Invesco's name and address to promote unauthorized trading accounts.

Fake Calls and Emails

According to BaFin, alleged Invesco employees have been contacting individuals by phone and email without consent. The calls and messages offer the chance to open trading accounts that appear linked to Invesco’s German branch. The regulator clarified that this impression is false.

“This is a case of identity theft,” BaFin said. The authority stressed that no genuine Invesco employee would ever contact consumers unsolicited or attempt to sell products via email or WhatsApp.

“The impression is given that the trading accounts offered are connected to the Invesco branch in Germany, which is supervised by BaFin. This is not the case,” the regulator cautioned. “This is a case of identity theft. No Invesco employee would call consumers unsolicited or try to persuade them to invest in Invesco products via email or WhatsApp.”

You may also like: SEC Chairman Backs “Super-App” Platforms in Crypto Market Overhaul

Under German law, only authorized firms can offer banking, financial, investment, or crypto-asset services. BaFin underlined that several companies still operate without the required license, exposing consumers to high risks.

To protect themselves, investors are encouraged to consult BaFin’s online company database, which provides details of all authorized institutions.

Investor Caution Urged

The regulator’s latest warning highlights a growing trend of fraudsters exploiting the names of reputable financial institutions to gain credibility. By mimicking Invesco’s identity, scammers seek to lure unsuspecting investors into fraudulent schemes.

BaFin urged the public to remain vigilant and verify any investment offer, especially if it involves unsolicited calls or emails claiming to represent well-known firms.

Germany’s financial regulator BaFin concluded a months-long investigation into the market for interest-bearing and express certificates in June, reporting no evidence of widespread misconduct by banks or product providers. The review was prompted by a surge in demand for these products following the end of the low-interest-rate environment.

While BaFin did not find systemic malpractice, it highlighted shortcomings in the way certificates are marketed and sold. Regulators raised concerns over whether customers fully understand the complex products, pointing to inconsistent cost disclosures and potential conflicts of interest when sales incentives are involved.

The investigation, which ran from May 2024 to February 2025, examined product manufacturers and the distribution channels used by financial institutions. BaFin assessed how certificates are developed, marketed, and explained to retail clients, with a focus on whether the information provided was clear and balanced.