The Italian financial services regulator, Consob, revealed Friday that it has cracked down on illegal financial activity by blocking access to a further six websites offering financial services and products without proper authorisation.
Italian Regulator CONSOB Blocks 6 Financial Websites
The latest move brings the total number of blacklisted websites to 1,162 since July 2019.
The blacklisted websites include:
- Tradetospace Global Limited (website: https://tradetospace.com)
- Continental Invest Ltd (website: https://continental-invest.ltd)
- “TradexService” (website: https://tradexservicescfd.com)
- “2139 Exchange” (websites: https://2139b.com and https://2139c.com)
- “Eminent Miner” (website: https://eminent-miner.com)
Consob used its authority granted by the “Growth Decree” and additional powers introduced to block the sites.
The laws allow the regulator to block websites engaged in what is deemed as illegal financial intermediation or those offering financial products without a prospectus.
The complete blackout of the websites by internet service providers within Italy is currently underway, according to the regulator. However, they added that due to technical reasons, it may take several days for the block to become fully functional.
Consob highlights the importance of investor vigilance and encourages individuals to conduct thorough research before making any investment decisions.
The regulator recommends verifying the authorisation of any financial service provider and ensuring a prospectus exists for offered financial products.
