Consob warning on: Bitcoin-Trader, Platinumpro Investment Ltd, Zurichbanc Ltd, Swissgems Ltd and Media Solutions Ltd, Uptos Ltd

Uptos Ltd (www.uptos.com) – Swissgems Ltd e Media Solutions Ltd (www.marketscfd.net) – Zurichbanc Ltd (www.zurichbanc.co) – Platinumpro Investment Ltd (https://platinumproinvestment.com) – Bitcoin-Trader (https://bitcointrader.software)   

Consob has ordered the black-out of 5 new websites that offer financial services illegally.

The commission availed itself of the powers resulting from the ‘Decreto Crescita’ (‘Growth Decree’; Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet access providers to block access from Italy to websites offering financial services without the proper authorisation.

The companies and websites are listed below:

  • Uptos Ltd (website www.uptos.com);
  • Swissgems Ltd and Media Solutions Ltd (website www.marketscfd.net);
  • Zurichbanc Ltd (website www.zurichbanc.co);
  • Platinumpro Investment Ltd (website https://platinumproinvestment.com);
  • Bitcoin-Trader (website https://bitcointrader.software).

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 204.

The measures adopted by Consob can be consulted on the website www.consob.it.

The black-out of these websites by internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.

Consob draws investors’ attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviours, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorised, and, for offers of financial products, that a prospectus has been published.

To this end, Consob would remind you that there is a section on the homepage of its website entitled “Be aware of fraud!“, which provides useful information to warn investors against financially abusive initiatives.

***

Moreover, Consob warns investors, with a special notice, about the practice adopted by abusive financial operators who improperly use the name and image of celebrities to promise easy earnings and induce investors to subscribe to investment proposals.

In particular, Consob warns that parties not authorised to provide investment services, addressing savers mainly through websites and social media, improperly associate untruthful statements, interviews or images of public figures with services they unlawfully offer or provide. The purpose of this practice is to promote investment services to investors using the images of people well-known in various sectors without their knowledge.

* * *

Consob has ordered the same subjects to cease the violation of Article 18 of Legislative Decree no. 58 of 24 February 1998, pursuant to article 7-octies, letter b) of the same legislative decree: