CONSOB Blocks Six More Unauthorized Investment Websites, Total Blacklisted Sites Reaches 1,769

Italy's financial regulator, the Commissione Nazionale per le Società e la Borsa (CONSOB), has ordered the blocking of six additional unauthorized investment websites as part of its ongoing crackdown on illegal financial services targeting Italian investors.

The newly blocked websites include:

• Index-Ftse (indexstrategyftse.com and related client/webtrader pages)
• Goldgcapital (goldgcapital.com and its client portal)
• FutureInvestment Ltd (futureinvestmentltd.com and its client portal)
• Ibrokergm (ibrokergm.com and its client portal)
• Reversal Investment Group (reversalsimgroup.com)
• Kortex (kortexbit.com)

According to CONSOB, the latest action brings the total number of unauthorized financial intermediary websites blocked since July 2019 to 1,769. Among them, 219 were crypto-asset service platforms.

The regulator said the website blocking measures are based on two legal frameworks: Italy's "Growth Decree," which authorizes the blocking of unauthorized financial intermediaries, and the country's implementation of the EU's Markets in Crypto-Assets Regulation (MiCAR), allowing regulators to restrict unlicensed crypto service providers targeting Italian investors.

CONSOB also warned that online investment scams are becoming increasingly sophisticated. Fraudsters are now using artificial intelligence, deepfake technology, fake celebrity endorsements, cloned social media accounts, synthetic voices, and AI-generated videos to make fraudulent investment schemes appear legitimate.

The regulator urged investors to verify a firm's regulatory status through official channels before investing and to remain cautious of online promotions promising high or guaranteed returns.

CONSOB's latest enforcement action reflects regulators' growing efforts to combat unauthorized investment platforms and AI-enabled financial fraud, which continue to pose significant risks to retail investors worldwide.