Online trading, Consob attacks pirate sites: 183 affected

The online trading bubble is under observation by Consob which has decided to attack pirate sites with no holds barred. According to what was reported by Il Sole 24 Ore, the numbers that emerged are indicative of an alarming situation: only in the first six months of 2018 did the cases at the center of the investigation result higher than the total recorded in the whole of 2017, when the total interventions of the There were 167 financial market supervisory authorities. Up to June 2018, however, there were 183 cases reported: of which 71 termination orders, 89 reports to the judicial authority, 7 precautionary suspensions and 8 bans on operating.

These are the official data that theformer president of Consob Mario Nava he was supposed to present today in a Senate hearing, clearly canceled following his resignation. The match has been postponed, pending the reshuffle of the top management, but the information that has emerged photograph a worrying scenario: in fact, there are more and more cases of fraudulent operators who exploit online sites trying to convince users to invest their money in options binary (currently banned by the European Union), CFD (contracts for differences), trading on currencies and precious metals.

One of the peculiarities of these operators is that they last less than the life of a butterfly and can be easily dismantled. Previously their offices were located in Cyprus and Malta, but given the more stringent European regulations on the subject they have broadened their horizons and are now located between the Marshall Islands, the Republic of Vanuatu (in Oceania) and Saint Vincent des Grenadines (in Bermuda). However, Consob, operating on the national territory pursuant to article 7 opties of the Consolidated Law on Finance - introduced in January 2018 - has the power to order the immediate cessation of abuses both on the internet and through telephone calls from operators who contact potential investors from places like Romania or Albania.

One of the first cases of online trading sanctioned in Italy concerned the case of Ibs Forex of Como, which operated online and through solicitors, at risk the trading companies WorldFxm and Sucaba Enterprise Ltd and Becfd Limited, while the last case was that of Venice Forex Investment, for which the person in charge of the activities Fabio Gaiatto was arrested in recent days.

One of the ways to limit the risk of running into fraudulent online trading operators is to check on the Consob website which operators and which ones are not authorized to operate in Italy, before deciding to invest.