Italian Watchdog CONSOB Blacklists over 480 Websites

Italy's financial watchdog CONSOB has blocked 3 websites, which provide financial services to the investors without licenses.

The 3 websites are as below:

• Vibeinv Invest Limited (www.vibeinv.com);

• “FXGBP Markets” (https://fxgbpmarkets.com);

• “Maxinvesto” (www.maxinvesto.com and related page https://secure.maxinvesto.com).

CONSOB availed itself of the powers deriving from the "Growth Decree" (Law no. 58 of 28 June 2019, Article no. 36, paragraph 2-terdecies), on the basis of which Consob can order Internet connectivity service providers to inhibit access from Italy to the websites through which financial services are offered without due authorization.

The number of websites blacked out since July 2019, when CONSOB got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 482. Most of these websites offer FX, CFD and cryptocurrency trading services.

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 black-out to come into effect.