Italy’s CONSOB blocks access to five unauthorized investment websites

Italy’s Companies and Exchange Commission (CONSOB) announced it has issued orders for the blocking of access to five unauthorized investment websites.

The websites targeted by the latest orders are:

• Gammance (www.gammance.com and https://webtrader.sleefe-knetium.com);
• MarexPrime LTD International (https://marexprimeltd.com and related pages https://client.marexprimeltd.com and https://trade.marexprimeltd.com);
• Skymont Investimenti (https://skymont-investimenti.com and related page https://client.skymont-investimenti.com);
• Ambrosiafx (https://ambrosia-fx.com and related page https://client.ambrosia-fx.com);
• Purpose Mutual Funds Limited (“RORMarkets”) (https://rormarkets.com and related page https://clientzone.rormarkets.com).

The latest regulatory action takes the total number of websites blocked by Consob since 2019 to 1,883. Of these, 260 concern crypto-related issues.

Internet service providers operating in Italy are currently blocking the websites. For technical reasons, the actual blocking may take several days to implement.

Consob also noted the evolution of deceptive practices that exploit the Internet to steal users’ money and personal data. There has been an increase in the use of new tools, such as “cloned” emails and websites, fake profiles of political figures, celebrities, and content generated by artificial intelligence systems—such as images, voices, or videos—with the aim of inducing savers to make harmful investment decisions.