Risks associated with investment proposals circulated via WhatsApp - Consob asks Google and Apple to remove the CapFirst and CapOne apps from their respective online stores

Consob warns savers about the risks associated with investment proposals circulated within WhatsApp groups by self-styled financial experts who, even boasting that they hold authorizations and licenses issued by Consob, promote unrealistic earning opportunities linked to alleged financial investments made through specific smartphone applications attributable to abusive operators.

These proposals, coming from individuals who falsely claim to hold authorizations and licenses issued by Consob, are misleading initiatives aimed at inducing savers to open a trading account and carry out financial transactions through smartphone applications that are not linked to any entity authorized to provide investment services and activities.

With regard to the operation of the CapFirst smartphone application (for Android operating systems) and CapOne (for iOS operating systems), Consob has ordered, pursuant to Article 7-octies, letter b) of Legislative Decree No. 58 of February 24, 1998, that the violation of Article 18 of the same TUF be terminated (Resolution No. 23651 of July 30, 2025).

Consob, also referring to its previous Notice of November 18, 2024, once again urges investors to exercise the utmost caution and to make informed investment choices by adopting common sense behaviors that are essential for safeguarding their savings: these include checking in advance that the operator through which they are investing is authorized.

31 July  2025