As part of its efforts to combat financial fraud, Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of 12 websites.

An order was issued to close one website (www.elite-flows.com) through which financial products were being offered to the public without a prospectus. In addition, orders were issued to take down 10 websites that were unlawfully providing investment services and activities relating to financial instruments, and one website that advertised an unauthorised trading platform.

The list of websites ordered to be taken down can be viewed below:

• “GoMarketsLtd” (website https://go-market-ltd.net and associated page https://client.go-market-ltd.net);
• “Dryden Partners” (website https://drydenpartners.com);
• “Atf GlobalX” (website https://atfglobalx.co and associated page https://client.atfglobalx.co);
• “LSEGCapital Limited” (website www.lsegcapital.com and related pages https://client.lsegcapital.com, https://webtrader.lsegcapital.com);
• “Roccanazionale IA” – “Zenterovlima.pro” (websites https://roccanazionale.com, https://roccanazionaleia.it, https://roccanazionale-ia.org and https://roccanazionale-it.com, as well as the associated advertising site https://zenterovlima.pro);
• “PFT Certx International Ltd and Zeus Global Asset Management FZCO” (websites www.pftcertx.com and www.pftcertx.it);
• “Elite-Flows Limited” and “Green Wealth Limited” (website www.elite-flows.com).

The latest orders bring the total number of websites blocked by Consob since July 2019 to 1,666.

The Authority has exercised the powers deriving from the “Growth Decree” to block the websites of unauthorised financial intermediaries, those introduced by the “Capital Act” regarding the blocking of websites used to run advertising campaigns for unauthorised brokerage platforms, as well as the power introduced by Law No. 8 of 28 February 2020, Article 4, paragraph 3-bis, regarding the blocking of the website through which the unauthorised offer is made.

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

Consob also draws attention to the evolution 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 by artificial intelligence systems – such as images, voices or videos – with the aim of inducing investors to make harmful investment choices.