Germany's Federal Financial Supervisory Authority BaFin has announced an investigation into Flip Access Plc for unauthorised provision of banking and financial services in Germany. The official announcement pointed out that according to the German Banking Act (KWG), any company providing banking or financial services in Germany must be authorized by BaFin, while Flip Access Plc is not regulated by BaFin. Information provided on Flip Access Plc's website, flipsaccess.com, gives reason to suspect that the company conducts banking business and provides financial services in Germany without obtaining the necessary authorizations. BaFin said investors can find information on whether a company has been authorized by BaFin in its company database. In addition, BaFin, the German Federal Criminal Police Office and the German State Criminal Police Office recommend that investors should exercise a high degree of caution when investing online and do the necessary investigations in advance to avoid being scammed.