BaFin disowns ISC Bank

ISC Bank

BaFin, Germany’s top financial regulator has disowned ISC Bank.

BaFin (registered office: unknown) is an undertaking that operates the website www.iscbank.de.

This gives the impression that it is a German bank although this is not the case. BaFin has not authorised the undertaking to conduct banking business in Germany in accordance with section 32 (1) of the German Banking Act (Kreditwesengesetz – KWG).

The undertaking is neither a credit institution nor is it subject to BaFin’s supervision.