Italy’s Companies and Exchange Commission (CONSOB) today announced it has ordered the blocking of access to seven unauthorized investment websites.

The entities targeted by the blocking orders are:

• “Orvelin-invest.org” (website https://orvelin-invest.org);
• “Credessa” (website https://credessa-it.net);
• “Kcapital” (website https://kcapital.net and related page https://my.kcapital.net);
• “Web-tradereurope.com” (website https://webtrader.web-tradereurope.com);
• “Zelvaris Group Ltd” (website https://zelvarisgroup.ltd and related page https://inv.zelvarisgroup.ltd);
• “capital-liquidity.com” (website https://capital-liquidity.com);
• “Wealth Trade Capital” (website https://wealth-trade.capital and related page https://trade.wealth-trade.capital).

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 the websites of unauthorized financial intermediaries to 1,736. Of these, 204 concern crypto-related operations.

The Authority has exercised the powers granted by the “Growth Decree” to block the websites of unauthorized financial intermediaries.

Internet service providers operating in Italy are currently blocking the websites. For technical reasons, the actual blocking may take several days to implement.

Consob also 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.