Italy’s Financial Regulator Expands Crackdown on Unauthorised Investment Websites

Italys financial markets regulator has intensified its enforcement efforts against illegal online investment activity, ordering internet providers to block access to 18 websites found to be operating without proper authorisation.

The move, announced by Italys Companies and Exchange Commission (CONSOB), forms part of a broader campaign to limit investor exposure to unauthorised trading platforms and unlicensed crypto-asset services targeting the Italian public.

Investment and Trading Platforms Taken Offline

According to the regulator, several of the blocked websites were offering investment services linked to financial instruments without the required approval, while others were actively promoting unauthorised trading platforms. In one particularly concerning case, a website was found to be misusing the names and images of prominent Italian public figures, including a sitting senator and a well-known entrepreneur, to enhance its credibility and attract victims.

Among the platforms affected were websites operating under names such as Urus Developments, InvestiProItalia, Arche-FX Group, Targon.ltd, and Apollocse, many of which also relied on separate client portals and promotional domains. These structures are commonly used to give the appearance of legitimacy while keeping the core operation opaque.

Illegal Crypto-Asset Services Also Targeted

In addition to traditional investment schemes, CONSOB ordered the blocking of 11 websites linked to the unauthorised provision of crypto-asset services. These sites, identified by short alphanumeric names, were found to be offering digital asset-related activities without complying with Italian or European regulatory requirements.

The regulator noted that these platforms often appear and disappear quickly, using generic branding and multiple domain variations to evade detection.

Growing List of Blocked Websites

With this latest action, the total number of websites blocked by CONSOB since mid-2019 has risen to 1,555. The authority relied on powers granted under Italy‘s Growth Decree, Capital Law, and the European Union’s Markets in Crypto-Assets Regulation (MiCAR), which strengthens oversight of digital asset services across the EU.

While the blocking orders have been issued, CONSOB cautioned that technical implementation by internet service providers may take several days to complete.

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