Financial Regulator Bans Five Unauthorized Websites

Five Unauthorized Websites

Per the press release, the watchdog relied on the ‘Growth Decree’ to charge internet providers. This will prevent access from Italy to the five unauthorized websites.

As stated in the enacted order, Consob blacklisted Atlasfx, S.P. Inc, Digital Exchange Limited and Securex Plus Solution EOOD, Think Market 247 Ltd and RL Ltd, and Finlay, with most of them linked to foreign exchange brokers.

Hence, with such a collection of new financial services-related sites, the regulator performs a total number of blocked websites of 457 after July 2019. The watchdog counts such companies as deceitful financial intermediaries.

The blackout of these websites by Internet service providers working on Italian territory is continuing. However, it can require several days for the outage to come into effect for technical purposes.

New Consob Blackouts Deployed

 

Moreover, the Italian authority warned investors that the blocked websites allowed financial services without a license. They should have given it beforehand.

Consob attracts investors’ attention to the significance of adopting the highest diligence to make educated investment choices. They are doing this by using common sense behaviors necessary to safeguard their savings. These include websites that allow financial services, holding in advance that the operator with whom they are investing has authorization. Moreover, websites that are for suggestions of financial products, that a plan has been issued.

However, this blackout campaign of abusive financial services websites used by the Consob is not the primary one sent out over the year.

Furthermore, the Italian regulator established in February to prevent the websites of Nab Europe Limited, Swiss Management Corporation, Expertsystemsfx, FXOptexGroups, Italiano invest, and QubitTech Corporation.

In January, they made the same with Axedo, Fxfinancepro, Thinkmarket 247 Ltd, Donnybrook consulting, Globalinvestfx, and Universe citizens limited.

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