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

The websites targeted by the orders are:

• “Orbisolyx” (website www.orbisolyx.com and page https://webtrader.grumblinion-radiex.com);
• “FXC Capital” (website https://fxc-capitals.com and associated page https://client.fxc-capitals.com);
• “OasisBF” (website https://oasisbf.com and associated page https://trader.oasisbf.com);
• “IMGPartners.cm” (website https://imgpartners.cm and related pages https://client.imgpartners.cm and https://webtrader.imgpartners.cm);
• “Auralyex” (website www.auralyex.co and related page https://webtrader.possares-renoyx.com);
• “Wexdor” (website https://wexdor.com and related page https://webtrader.wexdor.com).

This brings the total number of websites blocked by Consob since July 2019 – that is, since the Authority was granted the power to order the blocking of websites belonging to unauthorised financial intermediaries – to 1,718. Of these, 204 relate to crypto-related activities.

The Authority has exercised the powers deriving from the “Growth Decree” to block the websites of unauthorised financial intermediaries.

Internet service providers operating in Italy are currently in the process of blocking these websites. For technical reasons, the actual blocking may take a few days to implement.

It is important that investors exercise the utmost diligence in making fully informed investment decisions, adopting common-sense practices that are essential for safeguarding their savings: among these, checking in advance, for websites offering investment services and crypto-assets, that the operator through which one is investing is authorised and, for offers of financial products and crypto-assets, that the prospectus or white paper has been published.

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 using artificial intelligence systems – such as images, voices or videos – with the aim of inducing investors to make harmful investment choices.