Italy’s CONSOB Blocks Five Unauthorized Investment Websites

Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of five unauthorized investment websites, the regulator announced today. The move brings the total number of sites blocked by CONSOB since July 2019 to 1,853, of which 242 are related to crypto activities.

The websites targeted by the orders are:

• “RLMAsstStrategy” (https://rlmassetstrategy.com and related pages https://client.rlmassetstrategy.com and https://webtrader.rlmassetstrategy.com);

• Ava Invest (https://ava-inv.com and related page https://web-trendix.com);

• “GMTrade” (https://gmtrade.co and related page https://my.gmtrade.co);

• “Brelliozo IA” (https://brelliozoia-it.com);

• “IncomeMax” (https://iincome-max.com and related page https://web.iincomemax.com).

CONSOB exercised powers under the “Growth Decree” to block websites of unauthorized financial intermediaries, as well as powers under the MiCAR regulations (EU Regulation and Legislative Decree No. 129/2024) concerning the blocking of websites providing crypto-asset services to Italian savers without authorization.

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

The regulator also noted an evolution in deceptive practices that exploit the internet to steal users’ money and personal data. It said the use of new tools—such as “cloned” emails and websites, counterfeit profiles of political figures and celebrities, and content generated by artificial intelligence systems, including images, voices, or videos—has increased, with the aim of inducing savers to make harmful investment decisions.