It’s a new week and that, unfortunately, means there are new warnings about suspected scams within the financial space from financial regulators such as the Commissione Nazionale per le Società e la Borsa (CONSOB) – specifically in the foreign exchange (forex), cryptocurrency and contracts-for-difference (CFD) sectors.
CONSOB, which in English translates to the Italian Companies and Exchange Commission, has posted a warning on its website this Monday warning about three suspicious firms.
The companies in question are Capital Com Investment Ltd, One Thousand One Ltd, and Fsm Smart Limited. According to the financial regulator, these three entities need to: “terminate the violation of Article 18 of the TUF consisting in the offer and towards the Italian public of services and investment activities carried.”
What this means, is the entities are operating in Italy without having the required authorization. This type of behavior is often indicative of a scam, as legitimate firms will become authorized and registered before commencing operations in a country.
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Overview of the Suspicious Firms Flagged by CONSOB
Capital Investment Com Ltd, which operates through the site https://capital4bank.com claims to be an online forex trading provider that provides its clients with “the latest innovations in forex tools and resources to assist you in trading.” The company provides an address from St. Vincent and the Grenadines
One Thousand One Ltd via dax1001.com also offers FX trading, as well as commodities, indices, futures and more, according to its website. This entity offers two addresses, the Marshall Islands, which is a common destination for scams to set up their operations, as well as an address in Bulgaria.
Finally, WSF Smart Limited also claims to be a trading provider of FX, commodities, and indices through the website www.fsmsmart.com. The entity alleges its operations are based in Switzerland.
Due to the warning from CONSOB, no matter how legitimate the above entities may appear to be, and regardless of what they claim, it is a good idea to protect yourself and keep your distance.