Tag: 24waysFX

On 1 March 2022, the Spanish CNMV issued a warning against the broker scam Finaz.io. According to the website, the operator would be Finaz.io Ltd, an offshore entity registered in the Marshall Islands. Finaz.io runs as a white-label mutation on the Israeli PandaTS platform. The Finaz.io is allegedly connected to the perpetrators behind the vanished Globalix, BrokerZ, or 24WaysFX. European law enforcement agents recently arrested 15 suspects in Albania, allegedly connected to this cybercrime organization.

The Italian Consob issued orders to blackout the websites of five providers of illegal financial services bringing the total number of websites blacked out since July 2019 to 610. While in other regimes regulators can only issue warnings against illegal providers, Consob can order Internet providers to block their websites. It would be desirable if other regulators were authorized by their legislators to issue such blackouts. This would be an important step in the fight against cybercrime and scams.