Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to four new websites that offer financial services illegally.
The websites targeted by the latest orders are:
- BVTBanco Limited (website www.bvtbancolimited.com);
- “INCORE INVESTMENT” (website https://incore-investmentcfd.net and page https://client.incore-investmentcfd.net);
- “WoodcCapital” (website www.woodccapital.com and page https://platform.woodcmarkets.com);
- Reloft Srl SB (website www.reloft.it).
In issuing the orders, the Authority availed itself of the powers deriving from the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.
The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blocked, has thus risen to 1188. Last week, the regulator ordered the blocking of access to four unauthorized investment websites, including Financial Magnum.
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 blocking to be implemented.
Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices, and adopting common sense behaviors, essential to safeguard their savings. These include, for websites that offer financial services, checking in advance that the operator with whom you are investing is authorized. For offers of financial products, make sure that a prospectus has been published.
