Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to six new websites that illegally offer financial services.
Sites targeting the latest set of orders are:
- Xtbco Ltd (website and related pages and
- “FXCrue” (website and related pages and
- “Sgbfinancesa.io” (website and related pages and
- “Ariel System” (web
- “FXG Markets Investment” (website and related page
- Link Financial Limited (website www.linkfinancialltd.com).
In issuing the orders, the Authority made use of the powers deriving from the “Decreto crescita” (“Decree on Growth”; Law No. 58 of June 28, 2019, Article No. 36, paragraph 2-terdecies), under which Consob can order Internet service providers to block access from Italy to websites offering financial services without proper authorization.
The number of websites taken down since July 2019, when Consob was given the power to order the websites of fraudulent financial intermediaries, has risen to 983.
The shutdown of these websites by ISPs continues. For technical reasons, it may take several days for the block to take effect.