Italy’s CONSOB orders blocking of access to FX Modex and Binetrix websites
Italy’s Companies and Exchange Commission (CONSOB) has issued orders for the blocking of access to five illegal investment websites.
The websites targeted by the latest set of orders are:
- “Binetrix” (website https://binetrix.com);
- “Bitbinx” (website https://bitbinx.com and related page https://trade.bitbinx.com);
- “E-trade” (website https://www.e-trade.cc and related page https://client.e-trade.cc);
- “The Active Trades Ltd” (website https://theactivetrades.com);
- “FX Modex” (website https://fxmodex.com and related pages https://client.fxmodex.com and https://webtrader.fxmodex.com).
In issuing the orders, the regulator made use of the powers deriving from the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.
The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 919. Last week, the regulator ordered the blocking of access to three websites, including ones operated by Fisher Forex and ITC FX.
The implementation of the blocking of these websites by Internet service providers operating in Italy is ongoing. For technical reasons, it can take several days for the black-out to come into effect.