Italian watchdog blocks more than 500 investment websites for financial abuse

Italy’s Companies and Exchange Commission (CONSOB) today announces that the number of websites it has blocked due to financial abuse has exceeded 500.

The latest orders for the blocking of illicit investment websites target:

  • Dzikanta Limited (website;
  • Felicity Group Ltd (website;
  • GS4trade Invest Limited (website;
  • “Capitrades” (website and related page;
  • FUNDIZA Ltd (website;
  • Plus CFD Ltd (website and related page;
  • “Medica Trade” (website and relative page;
  • Nata Trade Limited (website and page;
  • Eu Investments Limited and James Long (Masons) Limited (website and related page;
  • “DevTech Holding” (website and related page

This way, the number of websites blocked following CONSOB orders has reached 505. 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.

Consob draws the attention of savers to the importance of using the utmost diligence in order to make investment choices.

To this end, Consob reminds the public that there is a section “Beware of scams!” on its website.

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