Home Business Abusive financial services: Consob obscures 5 websites

Abusive financial services: Consob obscures 5 websites


New hold of the Consob on websites. The Autorithy led by Paolo Savona ordered the banning of 5 new websites offering abusive financial services.

In detail, the sites for which Consob has ordered the blackout are:

– Crypto Solution Ltd (site Internet https://cryptopro24.com and related page https://client.cryptopro24.com);

– Agrico Holdings Limited (site Internet https://investagrico.com and related page https://client.investagrico.com);

– Wirexinvest Invest Limited and Wirex UAB (site Internet www.wirexinvest24.com and related page https://webtrade.wirexinvest24.com);

– Strat Ltd (site Internet www.finexoinv.io and related page https://client.finexoinv.io);

– Invest Area Ltd (site Internet https://investarea.com and related page https://accounts.investarea.com).

Salt, thus, a 605 the total number of sites blacked out by Consob starting from July 2019, since the Authority was given the power to order the blackout of the sites web of abusive financial intermediaries.

On this occasion, Consob draws the attention of savers to the importance of using the maximum diligence in order to make investment decisions in full awareness, adopting common sense behaviors, which are essential for safeguard your savings: among these, the prior verification, for the sites offering financial services, that the operator through which the investing is authorized and, for the offers of financial products, that the prospectus has been published.

Watch out for online scams: Consob’s advice

In this regard, Consob rattles off some useful information to warn the investor against abusive financial initiatives. The Authority reminds that the exercise of investment services and activities towards the public is reserved for subjects authorized by Consob and in the vast majority of cases the operation of unauthorized subjects, therefore lacking the requisites, including capital and organizational ones. , provided for by the law, also for the protection of investors, takes the form of real scams.

Consob reminds you that if you are contacted or come across a website of a person who offers you online trading (e.g. on binary options and / or forex transactions), check that it is authorized. With the authorization, the subject is registered in the SIM list kept by CONSOB.

The societies not registered in the lists kept by Consob not are licensed investment firms. Furthermore, if the company is not found in the communications for the protection of savers (“Notices to savers”), it could still be a company that is offering investment services without the required authorizations, but against which no measures have yet been adopted.

On the Consob website it is possible to consult the list of authorized parties and also the list of EU investment firms operating in Italy with branches and under the freedom to provide scheme, that is, without a branch. Banks may also be authorized to provide investment services; therefore it is also useful to consult the lists published on the Bank of Italy website.

If you haven’t invested yet, you may ask information to the subject who contacted you. In this case, Consob suggests: “have the name of the company said, if it is authorized, by whom, the authorization number, the website and where it is based”.

If possible, it is useful to consult the website of the authority that would have authorized the subject (also to verify through which websites this subject operates and not to run into so-called clone sites; in fact, in some cases the abusive operators use websites whose name is similar to that of authorized subjects) or consult online the business register of the country in which the subject has declared to you to have its registered office and verify the information on it (name, registered office, etc.). Finally, you can also enter the name of the company or website in the search engine (eg google) and check what you read on the web (eg in forums, blogs, etc…).

If, after your requests / verifications, you have not obtained clear and complete information, do not be in a hurry to invest your money in this company anyway, because it is probably a scam, suggests Consob.

In essence, Consob suggests it is good to be wary of subjects who promise you the recovery of the money invested. Warning indices are as follows:

  • The person who contacted you did not provide clear answers to your questions;
  • The answers provided were not reflected on the web and on the sites you examined;
  • Very high economic returns are promised and / or achievable in a short time as well as incentives (bonuses) to entice you to invest;
  • Insistent phone calls from the operator to convince you to invest (so-called cold calling)
  • The company is based in exotic countries / off shore / tax havens
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