Italy’s Companies and Exchange Commission (CONSOB) today announced it has issued orders for the blocking of access to 24 unauthorized websites.

Specifically, orders were issued to shut down 10 websites that were unlawfully providing investment services and activities relating to financial instruments, and 14 websites that were unlawfully providing services relating to crypto-assets.

The websites targeted by the latest orders include:

• “Umex Gain” (website https://umexgain.com);
• “RS Invest” (website https://rsinvestlimited.com);
• “White Arrow” (website https://white-arrow.org);
• “Strath Well” (website https://strath-well.com);
• “Auclimited” (website https://auclimited.cc);
• “Walton Market” (website https://waltonmarketltd.com);
• “SRINVA” (website https://srinvaltd.com);
• “BalanzFX” (website https://balanzfx.com);
• “Advantcrest” (website www.advantcrest.com);
• “Nova Trade” (website https://nova-trade.com);
• “Cervo Rendisco” (websites https://cervorendisco.com, https://cervo-rendisco.com, https://cervo-rendisco.net, https://cervo-rendisco.site, https://cervorendisco-ai.com, https://cervorendiscoia.com, https://cervo-rendiscoia.com, https://cervorendisco-it.click);
• “Flandenzo” (websites https://flandenzo.com, https://flandenzoia.net, https://flandenzo-it.org, https://flandenzoia.com);
• “Corona Fondenza” (websites https://coronafondenza.com and https://corona-fondenza.net).

This brings the total number of websites blocked by Consob since July 2019 – when the Authority was granted the power to order the blocking of websites belonging to unauthorised financial intermediaries – to 1,793. Of these, 233 relate to crypto-asset activities.

The Authority has exercised the powers conferred by the ‘Growth Decree’ to block the websites of unauthorised financial intermediaries, as well as the powers provided for under the MiCAR framework (EU Regulation and Legislative Decree No 129/2024) regarding the blocking of websites through which crypto-asset services are provided to Italian investors without authorisation.

Internet service providers operating in Italy are currently taking steps to block access to the websites. For technical reasons, it may take a few days for the block to take effect.

Consob stresses the evolving nature of deceptive practices that exploit the Internet to steal users’ money and personal data: there has been an increase in the use of new tools, such as emails and ‘cloned’ websites, fake profiles of politicians and celebrities, and content generated using artificial intelligence systems – such as images, voices or videos – with the aim of persuading investors to make harmful investment decisions.