CONSOB Adds 6 New Scammer Sites to Blacklist

CONSOB Adds 6 New Scammer Sites to Blacklist

CONSOB, the Italian FX watchdog just added six new fraudulent websites to its red list, pushing it to a total of 774 blacklisted entities since July 2019. All were illegally offering financial services; five of them were dealing FX and CFDs, while the sixth was using a football club’s name to solicit users into investing in a scam.

None of these are regulated anywhere, whiles one falsely claims to be CONSOB-licensed. The one in question is Alphafxprime. The other five black listed firms are as follows: Winnex Consulting, Titancfd, Uefa Football Fund Ltd, PX Fintech Limited, and EU Limited.

CONSOB is special amongst its European counterparts for being the only one with the power and authority to block scammer sites, i.e their domains.

The Italian regulator stresses the importance of diligence in regulating the markets industry in order to allow brokers and financial companies alike to make sober choices and act with common sense, all with the goal of protecting one’s and users’ funds from frauds and mistakes.

CONSOB is definitely not the only regulator fighting off scammers. It has become the financial industry’s number one priority to tackle scammers and safeguard users. Actions are taken on a daily basis.

Currently, there is no end in sight for financial scams, as they have become rampant over the past couple of years.

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