Since the end of the summer vacations, the Italian regulator Consob has again brought the news about websites closed for access by Italian consumers every Monday because of illegal financial offers. Today, six new sites have received black-out orders. Since July 2019, the Italian watchdog has blocked 516 websites for the Italian market. Consob is currently, unfortunately, the only European regulator that has this power in regulatory enforcement. It would be desirable if other jurisdictions also gave their regulators such authorization to fight scams more efficiently.
Consob has ordered the black-out of six new websites that illegally offer financial services. Five are abusive financial intermediation sites, and one site offers financial products without the required prospectus. Below are the sites Consob has ordered to be blacked out:
- Evolution Markets Ltd with website https://evom-ltd.com;
- RT Global with website www.app-trader.biz;
- Bitawave Global Limited and Bita System Ltd with website https://bitawave.com;
- InvestiFx with website https://investifx.com;
- VestleFx with website https://vestlefx.co;
- Amicus Investment Ltd with website https://amicusinvest.net.
The number of sites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 516.
