Italy’s Companies and Exchange Commission (CONSOB) has asked Google and Apple to remove two mobile apps that offer financial services to Italian investors illegally.
The two apps are “Solve Smart” (for Android operating systems) and “4X News” (for iOS operating systems). They are linked to “Eurotradecfd”, a company whose website is set to be blocked in Italy.
Consob has ordered the blocking of access to five unauthorized investment websites. They are:
- VT Markets Limited (website www.vtmarketsit.com and related pages https://myaccount.vtmarketsit.com and https://social.vt-academy.net);
- “Aitrade24” (website https://aitrade24.com and related page https://webtrader.aitrade24.com);
- “Telarax” (website https://telarax.io e page https://webtrader.resembox-grey.com);
- “TheToroGlobal” (website https://thetoro-global.com and related page https://client.thetoro-global.com);
- “Eurotradecfd” (website https://eurotradecfd.com and related page https://client.eurotradecfd.com).
In issuing the orders, the regulator made use of the powers granted to it under the “Decreto crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet service providers to block access from Italy to websites offering financial services without the proper authorization.
The number of websites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blocked, has thus risen to 1413.
The black-out of these websites by Internet service providers is ongoing. For technical reasons, it can take several days for the blocking to come into effect.
