The Italian Companies and Exchange Commission, or CONSOB, has made an announcement today. The announcement is in regards to the regulator issuing the orders to block five more unauthorized investment sites that targeted Italy-based investors.
A New Blocking Spree
Through issuing these orders, CONSOB is utilizing powers that were granted to it under the “Growth Decree.” This allows the Italian regulator to mandate the country’s Internet service providers (ISPs) to block access to illegal financial websites, at least within Italy’s borders. With the five new websites added, the number of websites that had been blocked under the “Growth Decree” had reached 199 in total.
The latest additions to the list stand as follows: BitFxMarkets (www.bitfxmarkets.com), CNBSFIN Ltd (www.cnbsfin.com), Game Capital ADS (www.24proinvestors.com), Capital Letter GMBH and STSRoyal Ltd (www.stsroyal.com), as well as One Thousand One Ltd (www.daxcfd.com).
It should be noted that accessing these websites is highly discouraged and that one must always ensure the validity of investment platforms before partaking in it.
Many On The Chopping Block
As it stands now, the “blackout” phase may take several days, as per the norm in matters such as this. This delay is attributed to the technical factors relating to denying website access to an entire country via individual ISPs
CONSOB has been keen to exercise its powers since the “Growth Decree” was announced. The regulator is further capable of adopting precautionary measures against various entities that do not comply with the laws of Italy. As an example, CONSOB had banned Rodeler Limited from conducting activities and providing investments within Italy, doing so in December of 2019. Rodeler, in turn, stands as the parent company of 24option and 24fx.
Stay Safe, Stay Secure
CONSOB has regularly exercised its new powers to block various websites, as would be made clear with the fact that 199 websites have been secured through it. The rampant presence of crime and fraud in the financial industry is a certainty due to the sheer amount of money that flows through it by the minute. Many a criminal has tried their hand at finance fraud, and very few can genuinely say they managed to get away with it.
With this in mind, it is prudent to encourage proper wariness when one receives any form of uncalled for solicitations to join various financial institutions. Try to refrain from agreeing to anything unless you are entirely sure what the implications thereof will be. As always, stay safe during these troubling times.