FPM MIN App Fraud Warning - Identity Theft Confirmed
Summary
BaFin issued a consumer warning confirming identity theft involving the FPM MIN app and associated WhatsApp groups. Unknown fraudsters are impersonating FPM Frankfurt Performance Management AG and its board member Raik Hoffmann to lure consumers into investing substantial sums through an unauthorized mobile application. The warning is issued under Section 37(4) of the German Banking Act (KWG).
What changed
BaFin has confirmed identity theft involving the FPM MIN app and WhatsApp investment groups allegedly operated by fraudsters using the name 'Professor Raik Hoffmann' and falsely claiming affiliation with FPM Frankfurt Performance Management AG. The scammers are offering unauthorized financial and investment services, tricking consumers into downloading the FPM MIN app and transferring significant amounts of money. BaFin emphasizes there is no legitimate connection between the WhatsApp groups and the actual company or its board member.
Consumers who have been approached by these groups or have already invested money through the FPM MIN app should immediately cease all contact, avoid sending additional funds, and verify whether investment service providers hold proper BaFin authorization using the BaFin company database. Anyone with information about unauthorized financial services should report it to BaFin's whistleblower contact point. BaFin, in coordination with the BKA and state criminal police offices, continues to warn about internet-based financial fraud targeting German consumers.
What to do next
- Verify any investment service provider's BaFin authorization via the BaFin company database before investing
- Report suspected unauthorized financial services or investment scams to BaFin's whistleblower contact point
- Alert customers and staff to recognize WhatsApp/Telegram investment fraud patterns described in BaFin's financial fraud warning section
Source document (simplified)
Erscheinung: 07.04.2026 | Topic Unauthorised business, Consumer protection Identity fraud: BaFin warns against the FPM MIN app and offers in WhatsApp groups
The German Financial Supervisory Authority (BaFin) is warning against WhatsApp groups allegedly run by FPM Frankfurt Performance Management AG and led by a person calling themselves Professor Raik Hoffmann. Consumers are being tricked into investing substantial sums of money and downloading the FPM MIN app. There is no connection whatsoever between any WhatsApp groups and FPM Frankfurt Performance AG or ist actual board member, Raik Hoffmann. This constitutes identity theft.
BaFin warns against investment scams via WhatsApp and Telegram.
It is suspected that the unknown operators of the WhatsApp group offer financial and asset services without the required authorisation.
Anyone conducting banking business or providing financial, investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Caution
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) warn consumers to watch out for internet-based financial fraud. If you wish to invest money online, exercise the utmost caution and do the necessary research beforehand in order to identify attempted fraud at an early stage.
In the “ Recognising financial fraud ” section of our website, you can view BaFin ’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraud on the financial market
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