On 18 October 2021, 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 532 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.
Below are the sites Consob has ordered to be blacked out:
- Vibeinv Invest Limited with website www.vibeinvv.com;
- AdmiralFX Cyprus Ltd with website www.admiralfx.net;
- AdmiralECN Cyprus Ltd with website www.admiralecn.net;
- Billion Traders Services OU website https://mytradingportal.com;
- Cam Trade Ltd with website https://camtrade.io;
- Globecfds with website www.globalcfds.com;
- Chambers Investment Trading Pty Ltd with website https://investchambers.com;
- Vigo and Co LLC (website www.onirofx.com).
The number of sites blacked out since July last, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 532.