Italy’s regulatory authority for financial markets, known as CONSOB, has mandated the blocking of access to seven unauthorized investment websites. This action is part of ongoing efforts to combat fraudulent operations in the financial sector.
The specific websites that have been targeted include:
– EXT24, with its main site and a dedicated page.
– Rgroupltd, which encompasses multiple pages under its domain.
– Trevorex, including its main website and associated applications.
– AHP, identifiable by its distinct site.
– QW Limited, with various pages under its main domain.
– Tradepower, which includes multiple sites connected to its operations.
– Magnomic Yield Ltd, recognized by its unique web address.
These recent actions were executed under the legal powers provided to CONSOB by the “Growth Decree” and related legislation aimed at enhancing regulations in financial markets. Since CONSOB was granted the authority to block fraudulent financial intermediary websites in mid-2019, the total number of blocked sites has reached 1,360.
The process for implementing these website blocks is currently underway through internet service providers in Italy. Due to various technical factors, the complete blocking may take several days to finalize.
This initiative highlights the regulatory body’s commitment to safeguarding investors from potential scams and illicit activities within the financial landscape. By systematically addressing unauthorized platforms, CONSOB seeks to foster a safer investment environment and protect the interests of individuals looking to engage in legitimate financial activities.