The Italian Financial Market Supervisory Authority (CONSOB) has issued a warning that it will blacklist five websites for illegally providing financial services in Italy. Since obtaining the relevant authorization in July 2019, the number of blocked websites by Consob has increased to 300.

Italian Consob blocked the black platform has reached 300!

The specific information of the five blocked websites is as follows:

1. Digital Exchange LIMITED and Securex Plus Solutions EOOD

(website www.dgxlimited.com);

2. GrahamFE FinServices LTD and Elit Property Vision LTD

(website www.grahamfe.com);

3. Brokermasters Ltd

(website www.brokermasters.net);

4. Raw Trading Ltd

(website www.icmarkets.com);

5. Fintech Software Inc, Oproserv Limited, Leadernet OU

(website www.fx-leader.com).

CONSOB has ordered five new websites to be blocked, but it could take several days for the blocks to take effect for technical reasons

Italian Consob blocked the black platform has reached 300!

In order to protect Italian consumers from financial fraud, from July 2019, Italian law gave CONSOB the right to order Internet service providers (ISPs) to shut down unauthorized websites offering financial services, called GrowthDecree. The number of websites blocked so far has risen to 300.

The crackdown comes after Consob improved its process for identifying offending companies. Recently, the regulator went after a small number of CySEC-licensed brokers and ordered them to stop doing business in the country.

CONSOB reminds investors that they should fully understand the relevant information of financial websites before making investment choices, which is essential to protect the safety of their funds.