The Italian financial services regulator Consob has
once again taken action against fraudulent financial services by blocking five
websites suspected of offering illegal financial services. This move happened
barely a month after the regulator blocked six websites to protect investors
from deceptive schemes.
Consob’s latest crackdown targeted various websites
operating without proper authorization to offer financial services. Among the
blacklisted platforms are Imperialcap24 Limited and Top Markets Ltd, AfexEU,
Bitblanco, INVESTRIUM, and FameFX24.
The suspicious entities operate the website domains https://imperialcap24.com, https://wt.imperialcap24.com, www.afexeultd.com,
https://investriumltd.com, https://investriumltd.com, and https://famefx24.com,
respectively.
According to the watchdog, these websites were found
to be violating regulations. Since acquiring the authority to order the
blackout of fraudulent financial websites in July 2019, Consob has now
blacklisted a total of 1,047 websites.
Source: CONSOB
Ongoing Battle against Financial Fraud
Early this month, CONSOB restricted six websites
operating without approval. This action targeted several websites, including
Ether Limited, Aegion Group Ltd, Investment Analysts, Fidelitycfd, Mex-Fx, and
Ultraford. According to the watchdog, these platforms were found
to be offering financial services without proper authorization, posing
significant risks to investors.
Since July 2019, Consob has restricted multiple websites
involved in fraudulent financial activities. The agency has emphasized due
diligence in making investment decisions, urging investors to verify the
authorization of financial service providers and the publication of
prospectuses for financial products.
Globally, financial regulators like Canada’s
Securities Administrators and Belgium’s Financial Services and Markets
Authority have cautioned against fraudulent online trading
Online Trading
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Read this Term platforms. Similarly, the UK’s Financial Conduct Authority has
intensified efforts to combat financial scams by issuing over 2,000
warnings in 2023 alone.
Clone brokers pose a significant threat to investors by utilizing the credentials of legitimate brokers to deceive clients. Consob highlighted these deceptive tactics used by clone
Clone
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
Read this Term websites, which adopt names similar to licensed entities but lack legitimate authorization.
The Italian financial services regulator Consob has
once again taken action against fraudulent financial services by blocking five
websites suspected of offering illegal financial services. This move happened
barely a month after the regulator blocked six websites to protect investors
from deceptive schemes.
Consob’s latest crackdown targeted various websites
operating without proper authorization to offer financial services. Among the
blacklisted platforms are Imperialcap24 Limited and Top Markets Ltd, AfexEU,
Bitblanco, INVESTRIUM, and FameFX24.
The suspicious entities operate the website domains https://imperialcap24.com, https://wt.imperialcap24.com, www.afexeultd.com,
https://investriumltd.com, https://investriumltd.com, and https://famefx24.com,
respectively.
According to the watchdog, these websites were found
to be violating regulations. Since acquiring the authority to order the
blackout of fraudulent financial websites in July 2019, Consob has now
blacklisted a total of 1,047 websites.
Source: CONSOB
Ongoing Battle against Financial Fraud
Early this month, CONSOB restricted six websites
operating without approval. This action targeted several websites, including
Ether Limited, Aegion Group Ltd, Investment Analysts, Fidelitycfd, Mex-Fx, and
Ultraford. According to the watchdog, these platforms were found
to be offering financial services without proper authorization, posing
significant risks to investors.
Since July 2019, Consob has restricted multiple websites
involved in fraudulent financial activities. The agency has emphasized due
diligence in making investment decisions, urging investors to verify the
authorization of financial service providers and the publication of
prospectuses for financial products.
Globally, financial regulators like Canada’s
Securities Administrators and Belgium’s Financial Services and Markets
Authority have cautioned against fraudulent online trading
Online Trading
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone
Read this Term platforms. Similarly, the UK’s Financial Conduct Authority has
intensified efforts to combat financial scams by issuing over 2,000
warnings in 2023 alone.
Clone brokers pose a significant threat to investors by utilizing the credentials of legitimate brokers to deceive clients. Consob highlighted these deceptive tactics used by clone
Clone
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
Read this Term websites, which adopt names similar to licensed entities but lack legitimate authorization.