CONSOB in Italy Closes Five Unauthorized Investment Websites


June 11, 2021 | AtoZ Markets-The Italian Companies and Stock Market Commission (CONSOB) continues in the process of auditing fraudulent websites, and has issued orders to block access to five unauthorized financial websites.

The Italian regulator has taken this measure since these places have been abusing citizens by offering their financial services illegally.

What websites have been blocked

• Kiplar Ltd (website https://kiplar.com);
• “AcadianAmLtd” (website www.aca-asset.com and related page https://accounts.aca-asset.com);
• UniCap Trade Ltd and “Tradobit” (website www.tradobit.com)
• Revotrade Ltd (website www.revotrade.com and related page https://my.revotrade.com);
• “GB Trade FX” (website https://gbtradefx.co.uk and related page https://gbtradefx24.co.uk).

It is noteworthy that the number of fraudulent websites that CONSOB has closed since July 2019 has grown to 467, while the regulatory entity has asked investors to always check in advance that the operator with whom they are investing is authorized.

The measures adopted by Consob can be consulted on the website www.consob.it.

Consob would remind you that on the website www.consob.it there is a section on the homepage, “Watch for Scams!”, providing useful information to warn investors against financially abusive initiatives.

Watch For Scams!

CONSOB has said that The management of investment services and activities towards the public is reserved to subjects previously authorized.

Most of the time, the operations made by UNAUTHORIZED subjects, lacking the necessary requirements, including property and organizational ones, as envisaged by the regulations for the protection of investors, effectively give rise to SCAMS.

The Authority availed itself of the powers deriving from the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet connectivity service providers to inhibit access from Italy to the websites through which financial services are offered without due authorization.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

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