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Italy’s Companies and Exchange Commission (CONSOB) has ordered the black-out of several new websites that offer financial services illegally.

The websites targeted by the orders are:

  • “Fusionlots” (website https://fusionlots.io and related page https://platform.fusionlots-techf.com);
  • “Tux/Tuxai” (websites https://tuxtop.com, https://tux8.com, https://tuxail.com and https://tuxai.com);
  • Chiron Group Limited (website https://chiron-group.limited and pages https://cfd.chiron-group.limited and https://cfd.chirongroup.proxy84.com).

In issuing the orders, the Authority made use of the powers deriving from 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 get blocked, has thus risen to 1211. Last week, the regulator ordered the blocking of access to five unauthorized investment websites.

The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the blocking to be implemented.

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