Italy’s Consob Orders Blackout of Six Unauthorized Investment Websites

Italy’s financial regulator, Consob, has ordered the blocking of six websites accused of illegally offering investment services and financial trading activities without authorization.

The enforcement action forms part of Consob’s ongoing campaign against online financial fraud and unauthorized investment platforms targeting retail investors across Europe.

According to Consob, the platforms were allegedly providing investment services relating to financial instruments in violation of Article 18 of Italy’s Consolidated Law on Finance (TUF).

The regulator said internet service providers in Italy are in the process of blocking access to the websites, although technical implementation may take several days.

Consob noted that the latest action raises the total number of websites blocked since July 2019 to 1,718, including 204 linked to crypto-related activities.

The watchdog also warned investors about increasingly sophisticated online fraud tactics, including cloned websites, fake celebrity endorsements, spoofed communications, and AI-generated content designed to lure victims into fraudulent investment schemes.

Consob urged investors to verify whether an investment provider is properly authorized before transferring funds and to confirm that required prospectuses or white papers have been published for financial or crypto-related offerings.

The websites ordered to be blocked are: