Consob Orders Block of Unauthorised Investment Websites

Italy's Companies and Exchange Commission (Consob) has ordered the blocking of six websites that were found to be unlawfully providing investment services and financial instrument-related activities without authorisation.

The latest enforcement action brings the total number of websites blocked by Consob since July 2019 to 1,805, including 233 linked to crypto-asset activities. Separately, the regulator has also prohibited OÜ Nibble Itsf from offering investment contracts to retail investors in Italy through its Nibble Finance platform.

Consob reminded investors to verify that investment service providers are properly authorised before investing and warned that fraudsters are increasingly using cloned websites, fake celebrity endorsements and AI-generated content to deceive consumers.