Watch for “scams squared”: from Consob a warning on the risks of fake debt collection to those who have already been scammed.

The National Commission for Companies and the Stock Exchange warns savers about the risks arising from the activities of unspecified subjects who, presenting themselves as lawyers, through telephone contacts and the website https://studiolegaleagnelli.it, improperly use the logo and name of CONSOB, AGCOM and AGCM and pretend to have been commissioned by CONSOB to recover sums previously lost by savers as a result of investments made through financial trading websites.

It is a well-known fraud technique, for which ESMA has also issued a warning [link: https://www.esma.europa.eu/investor-corner/frauds-and-scams]. The agents of these deceptive initiatives claim that CONSOB, whose representatives and employees are also improperly nominated in some circumstances, can assist victims of financial fraud to recover or “unlock” lost money.

The authors of such initiatives ask victims for a fee or payment of a “tax” but, afterwards, they seize these sums from savers without providing any service.

Savers are warned, therefore, that these activities, are in no way referable to CONSOB (which does not deal with debt recovery) nor have they been authorized by CONSOB.

In recommending again the utmost caution, CONSOB suggests to look at the section of its institutional website (www.consob.it) called “Watch for scams!” and, in particular, the previous communications to protect savers regarding the so-called fake debt collection practice and the unauthorized use of the Consob logo.

21 February 2025