Punctual as the sundial, the Italian financial watchdog has been announcing the blackout of scam websites every Monday for several months. Today, the Italian regulator Consob announced the black-out of five new websites of illegally operating financial services providers. Consob is the only EU regulator to take this effective measure. However, it would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites.
Below are the sites Consob has ordered to be blacked out:
- Preqster Ltd d/b/a Pips500 with website http://www.pips500.com;
- Trade Action Ltd and TradeSaction Ltd d/b/a TradesAction with http://www.tradesaction.com;
- Libortrading Ltd and LiborTC Ltd d/b/a LiborTrading with website http://www.libortrading.com;
- Astrica Ltd d/b/a VIPforexPro with website http://www.vipforexpro.com;
- Orobanc Ltd and Equal Target Ltd d/b/a OroBanc with website https://orobanc.com.
The number of sites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 462.