Consob Orders Blackout of 5 Illegal Financial Websites

Italy's financial markets regulator, Consob, has mandated the shutdown of five websites that provide illicit financial services in a bold attempt to safeguard investors. Consob may force internet service providers to prevent access to websites operating without the necessary license by using the authority provided by the “Growth Decree” (Law no. 58 of 28 June 2019). The blacklist has been updated most recently to include:

• FusionLots (https://fusionlots.com and https://platform.fusionlots-techp.com)

• CM FX Trade (https://cmfxtrade.com and https://client.cmfxtrade.com)

• Capitalpartners24 (https://capitalpartners.org)

• Alfacapitalmarket (https://alfacapitalmarket.com and https://client.alfacapitalmarket.com)

• Investax (www.investax.org)

This makes 1,115 websites blacked down overall since Consob was given the authority to take action against dishonest financial intermediaries in July 2019.

It might take several days to conduct the procedure of blocking these websites, which calls for cooperation with Italian internet service providers. The steps taken by Consob are part of a continuous attempt to safeguard investors from fraud and illicit financial activity.

The body underlines the significance of investors using prudence and doing their homework before making investments. Ensuring a prospectus is published for any provided financial products and confirming the financial service provider's permission are crucial actions.

On its main website (www.consob.it), Consob provides tools and information to assist investors in spotting and avoiding fraud. Critical advice and warnings on financially abusive behavior are provided in the “Watch for Scams!” section, which emphasizes the need for cautious and knowledgeable investing.

Consob is dedicated to protecting public funds and investments by making sure that all financial service providers follow the law even as it continues to clamp down on illicit financial services.