Tag: FMarketX

On 2 November, Italian regulator Consob ordered the black-out of ten new sites illegally offering financial services to Italian consumers. Since July 2019, the Italian watchdog has blocked 542 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.

The Spanish regulator issued an investor warning against the FMarketX broker scam. The scam is apparently operated by Penelope Partnership Ltd, registered in St. Vincent and the Grenadines, which was already active with the TopIndex (www.topindex.co) scam. As a payment processor, we have discovered the PayBox cashier (https://cashier.boxipay.io) as well as PayTechno d/b/a THE BEST GATEWAY. At PayTechno, Penelope Partnership Ltd is still registered as a merchant with the old TopIndex scam.