Number of unauthorized investment websites blocked in Italy reaches 850
Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to five new unauthorized investment websites.
The websites targeted by the latest order are:
- Flack Consulting LLC (website https://arkcoin.live and related page https://webtrader.aktrade.cc);
- Shlack Consulting LLC (website https://tradegenics.co);
- Florishing Group LLC (website https://bstrade.world and related page https://webtrader.bstrade.top);
- Broker Capitals Ltd (website https://brokercapcfd24.com and related page https://platform2.brokercapcfd24.com);
- “VirtuFinance” (www.virtufinance.come and related page https://webtrader.virtufinance.com).
In issuing the orders, the Authority 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 the blocking of access to the websites of fraudulent financial intermediaries, has thus risen to 850.
The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the blocking to come into effect.
Consob draws investors’ attention to the importance of adopting the greatest diligence to make informed investment choices, adopting common sense behaviors, essential to safeguard their savings: these include, for websites that offer financial services, checking in advance that the operator with whom they are investing is authorized, and, for offers of financial products, that a prospectus has been published.