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Financial Service Companies are Being Blocked within Italy

Financial Service Companies are Being Blocked within Italy

Italy’s Companies and Exchange Commission (CONSOB) is progressively banning more and more sites that illegally provide financial services, totaling 688 firms. This week only 5 new web pages have been blocklisted.

Within the issuing orders, CONSOB has made use of the powers derived from the “Growth Decree”, by which CONSOB can instruct internet providers to blocklist websites offering financial services without the necessary authorization.

The usual blocklist each month comprises sites that provide FX, digital asset, and CFD exchange services. Although, most of these are deceitful impostors that use names, addresses, and logos of licensed companies within Italy.

In December of this year, 28 web pages were blacklisted. The blacklisting of these websites can take up to a week to come into effect due to technical reasons.

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