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

The websites targeted by the latest CONSOB orders are:

• Alantra MC Limited (website https://alantmc.com and page https://webtrader.alantrafx.com);
• “Index-Ftse” (website www.index-ftse.com and pages https://client.index-ftse.com and https://webtrader.index-ftse.com);
• “Morgan Capital” (website https://morgan-capital.ltd and related page https://cfd.morgan-capital.ltd);
• “Viforex” (website https://viforex.com and related page https://my.viforex.com);
• “Morvath” (site https://morvathltd.com and related pages https://inv.personalplattform.com and https://inv.users-cabinet.com).

Since July 2019 when CONSOB got the powers to block the websites of unauthorized financial services firms, the regulator has blocked a total of 1,671 websites. Of these, 168 concern crypto-related activities.

The Authority has exercised the powers granted to it by the “Growth Decree”. Internet connectivity providers operating in Italy are currently blocking the websites. For technical reasons, the actual blocking may take several days to implement.

Consob notes the evolution of deceptive practices that exploit the internet to steal users’ money and personal data. The use of new tools, such as “cloned” emails and websites, counterfeit profiles of political figures, celebrities, and content generated by artificial intelligence systems—such as images, voices, or videos—has increased, with the aim of inducing savers to make harmful investment decisions.