Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of access to four new unauthorised investment websites.
The latest set of orders target:
- “Eurotrade Forex” (website https://eurotradeforex.net and related page https://client.eurotradeforex.net);
- “Bithebanx.pro” (website www.bithebanx.pro and related pages https://webtrader.bithebanx.pro and https://mobtrader.bithebanx.pro);
- Billionaire Trade Ltd (website https://billioniare-trade.co.com and related pages https://panel.billionaire-trade.co.com and https://trading.billionaire-trade.co.com);
- “Alfacapitalmarketsltd” (website https://alfacapitalmarketsltd.net and related page https://account.alfacapitalmarketsltd.net).
In issuing the orders, the regulator made use of “Decreto crescita” (“Growth Decree”, Law No. 58 of 28 June 2019, Article No. 36, paragraph 2-terdecies). This piece of legislation gave CONSOB the authority to order Internet service providers to block access to unauthorised investment websites that target Italian residents.
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 1008. Last week, the regulator ordered the blocking of access to the websites of Alphascrypto, Blackridge Capital Management, and Fast-MNG.
The process of implementing the black-out of these websites by Internet service providers is ongoing. For technical reasons, it can take several days for the blocking to be implemented.
