New Sites Added to CONSOB’s Black List

New Sites Added to CONSOB’s Black List

The Italian regulator CONSOB updated its website on Friday with 6 new blacklisted entities. With this move, the watchdog is asserting its ground and tacking the fight to the scammers. Six of the seven flagged websites have allegedly been discovered to function from within Italian territory and are offering unregulated services.

The blacklisted company names that run the websites are as follows: Trade Action Ltd, Renaissance Invest LTD, 24tradex, ProfitMarketsCFD, Notesco Limited and GDenlinea. The total number of blacklisted websites by CONSOB has reached the unprecedented number of 565.

The Italian overseer has been active in backlisting scammer sites ever since July of 2019. It was provided the authority not only to block these sites but to shut them down for good to Italian users.

The regulator commented that it wishes to inform all traders of the importance of due diligence, especially when making investment choices. According to CONSOB these include, “adopting common-sense behavior…checking in advance that the operator with whom they are investing in is authorized, and, for offers of financial products, that a prospectus has been published,”

There are many other regulators that have been constantly on the watch for scammer websites, and have been continuously flagging websites. However, CONSOB is the only regulator currently with the power to completely block access to these websites to users, essentially shutting them down.

Top Forex Brokers

BrokerCountryRatingMin. DepositWebsite
US4.99/5$50 Click for a special offerWebsite

Leave a Reply

Your email address will not be published. Required fields are marked *