Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to four new unauthorized investment websites.
The most recent set of target orders:
- “Eurotrade Forex” (website and related page
- “Bithebanx.pro” (website www.bithebanx.pro and related pages and
- Billionaire Trade Ltd (website and related pages and
- “Alfacapitalmarketsltd” (website and related page
In issuing the orders, the regulatory authority used the “Decreto crescita” (“Decree of growth”, Law no. 58 of June 28, 2019, article no. 36, paragraph 2-terdecies). This bill gave CONSOB the power to order Internet service providers to block access to unauthorized investment websites targeting Italian residents.
The number of websites taken down since July 2019, when Consob was empowered to order the blocking of websites of fraudulent financial intermediaries, has risen to 1008. Last week, the regulator ordered the blocking of access to Alphascrypto’s websites , Blackridge Fund Management and Fast-MNG.
The process of implementing the shutdown of these websites by Internet service providers is ongoing. For technical reasons, it may take several days for the block to take effect.