fraudulent initiatives that take advantage of the coronavirus pandemic
Flagged by Commissione Nazionale per le Società e la Borsa · Italy (ITA)
Official Warnings (1)
Consob points out that the dramatic news about virus outbreaks can be an opportunity for malicious people to spread false or misleading information to take unfair advantage of pandemic fears and try to manipulate financial markets and investors. In particular, savers are warned against out-and-out attempts at fraud, mainly through the Internet, offering fictitious products that are somehow apparently linked to the coronavirus (Covid-19). These scams take many forms and could
involve, among other things, the offer - through promotional material and fake news - of nonexistent stocks or bonds of phantom companies that are supposedly taking initiatives to contain or cure the coronavirus, or the offer of various high-yield investment opportunities,
including investments in presumed virtual currencies linked to the spread of viral contagion (such as "Coronacoin”).
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Other Flagged Firms (ITA)
This information is sourced from IOSCO I-SCAN and official financial regulators. Inclusion in this database does not necessarily mean the firm has committed fraud - it may indicate they are not authorized to operate in a specific jurisdiction. Always verify directly with the relevant regulator before making investment decisions.