Seal of Approval

Whether it is the financial crisis, the EU stress test or Basel III, the banking and finance sector is in the spotlight. In order for the financial services sector to function properly, there must be efficient supervision where strict rules can be continually adapted to the changing market conditions and other challenges. In Germany the responsible body is the Federal Financial Supervisory Authority (BaFin). The legal framework for this supervision is based on several laws of which, for financial services, the most important are the Credit Services Act (KWG) and the law preventing money laundering, fraud and, in the wake of the 11 September 2001, the financing of terrorism (GwG). The requirements needed in order to provide financial services are subject to very strict regulations. These regulations, stipulated by the aforementioned laws, will help prevent business failures, identify potential problems and mitigate risks.

Of course, Novalnet AG is accredited by the BaFin as a financial services institution. Novalnet AG meets all the requirements set down by this supervisory authority and thus officially offers its merchants, in all areas, a fully legally compliant service. This provides the best protection against fraud and swindle for merchants and their customers. This official accreditation as a financial services institution is a seal of approval which should be a must for every online merchant searching for a payment service provider.

For more information, see www.bafin.de

Novalnet AG can be found on the official list of BaFin approved financial services institutions: Company database