Italy’s CONSOB blocks access to more unauthorized investment websites

Italy’s Companies and Exchange Commission (CONSOB) announces that it has ordered the blackout of five new websites that abusively offer financial services.

The Authority availed itself of the powers deriving from the “Growth Decree” (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet connectivity service providers to inhibit access from Italy to the websites through which financial services are offered without due authorization.

Below are the websites targeted by the latest CONSOB orders:

• Lithe Group Ltd (website https://platinex.co and related page https://client.platinex.co/dasboard);
• Renaissance Invest LTD (website www.renaissanceinvestltd.co);
• Tremisa Ltd (website www.askemarket.com);
• “Investus FG” (website https://investusfg.com and related page https://secure.investusfg.com);
• Kiplar Ltd (website www.kiplar.org).

The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 510. Last week, the regulator announced the number of blocked websites had surpassed 500.

Let’s recall that the regulator got the power to block access to websites of companies that offer financial services (Forex, CFD, crypto trading, etc) without the necessary permissions back in the summer of 2019.

In issuing the orders for the so-called black-out, that is, blocking of access from Italian territory to the illicit websites, the Authority made use of the powers granted to it under the “Growth Decree” (law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies).

The implementation of the black-out of the above-mentioned websites is currently in progress. It may take a few days due to purely technical factors.