Consob Blocks Six Illegal Websites in Latest Crackdown on Financial Fraud

Italy's financial markets regulator, Consob, announced on Friday that it has ordered the blocking of six additional websites that were offering investment services and financial instruments without the required authorisation. The move is part of the authority's ongoing crackdown on unlicensed financial activity in the country.

The newly blocked platforms include aoncfd.com, wallexmarketsbv.it.com, Valore Capital (valore-capital.com), Igcapitaleurope.com, Dortuviax (dortuviax.it) and Market Capital FX (marketcapitalfx.com). Consob said the restriction also applies to associated client portals and trading platforms linked to these sites.

With this latest action, the total number of websites blocked by Consob since July 2019 has risen to 1,799. That year, the regulator was first granted the power to order site blocks. Of the total, 233 blocked sites are connected to crypto-asset activities.

Consob is acting under authority derived from Italy's "Growth Decree," which allows it to target unauthorised financial intermediaries. It is also drawing on powers under the EU's Markets in Crypto-Assets Regulation (MiCAR) and related legislation to block platforms offering crypto-asset services without proper authorisation.

Internet service providers in Italy are now working to implement the blocks. Consob noted that it may take several days for the restrictions to take full effect because of technical factors.

The regulator is also urging investors to remain vigilant. It recommends checking whether any platform offering investment or crypto-asset services is properly authorised and whether relevant prospectuses or white papers have been published before committing funds.

Consob highlighted a rise in increasingly sophisticated scam tactics, including cloned websites, fake endorsements from celebrities and politicians, and AI-generated content such as fabricated images, videos and voice recordings designed to manipulate investors.