Italian Consob has ordered the black-out of five more scam websites

Consob orders blackout for five more websites
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Sure, scammers launch most likely a few dozen new websites every single day. Thus, closing down five per week doesn’t sound too impressive, but it’s a start. Like every week, the Italian regulator Consob announced the blackout of five new websites of illegally operating financial services providers. Consob is the only EU regulator to take this effective measure. It would be desirable if more member states would create a legal basis for blocking illegal or fraudulent websites. Forza Italia!

The commission availed itself of the new powers resulting from the “Decreto Crescita” (“Growth Decree”; Law no. 58 of 28 June 2019, article 36, paragraph 2-terdecies), on the basis of which Consob can order internet service providers to block access from Italy to websites offering financial services without the proper authorization.

Below are the sites Consob has ordered to be blacked out:

The number of sites 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 436.

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