Number of unauthorized investment websites blocked in Italy reaches 211

Maria Nikolova

Italy’s Consob has just issued another set of orders for blocking of access to the websites of unauthorized online trading services providers.

Italy’s Companies and Exchange Commission (CONSOB) today announces that it has issued orders for the blocking of seven websites of unauthorized online trading entities.

The latest orders concern:

  • “CruxINV” (https://cruxinv.com and https://client.crux24.com);
  • Digital Exchange Limited and Securex Plus Solutions EOOD (www.dgxltd.com);
  • Maginito Services Ltd (www.profitsystemfx.com);
  • Kleinman Enterprise LTD and Kleinman Services OU (https://wisefunds.co);
  • FXLinked Ltd, FXLinked (SV) LTD, FXLinked (Europe) Ltd and FXLinked (Seychelles) (www.fxlinked.com and www.forexlinked.com).

In ordering the blocking of these websites, the Italian regulator made use of the powers granted to it under the “Growth Decree”. This piece of legislation allows Consob to block access to unauthorized investment websites from Italy’s territory. Since the “Growth Decree” became effective in June 2019, the regulator has ordered the blocking of access to 211 websites of illicit online trading entities.

The implementation of the “blackout” of the websites may take several days to implement due to technical factors.

In April, Consob ordered the blackout of www.tradeatf.com, as the website has been used by Hoch Capital Ltd, a Cyprus-based investment company, in violation of the ban imposed on it by Consob in December 2019. The website belongs to TradeATF, a broker operated by Hoch Capital.

According to the regulator, Hoch Capital is using the website to continue to provide investment services, to solicit and to acquire new customers in Italy as well.

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