Italy’s financial regulator, CONSOB, has ordered access to another six websites to be blocked from Italy, taking the number of blocked websites to 1,769 since July 2019.
The latest action targets four websites allegedly offering investment services without authorisation and two websites allegedly providing unauthorised crypto-asset services. The figures show a continuing enforcement effort—but they need to be read carefully. CONSOB is counting websites, not necessarily separate companies, criminal networks or completed prosecutions.
Six more websites added to CONSOB’s blocking list
In its 10 July 2026 notice, CONSOB identified six websites or website groups that it said were operating without the required authorisation.
| Named operation | Websites listed by CONSOB | Alleged activity |
|---|---|---|
| Index-Ftse | indexstrategyftse.com client.indexstrategyftse.com webtrader.indexstrategyftse.com |
Unauthorised investment services |
| Goldgcapital | goldgcapital.com my.myprtal.com |
Unauthorised investment services |
| FutureInvestment Ltd | futureinvestmentltd.com client.futureinvestmentltd.com |
Unauthorised investment services |
| Ibrokergm | ibrokergm.com client.ibrokergm.com |
Unauthorised investment services |
| Reversal Investment Group | reversalsimgroup.com | Unauthorised crypto-asset services |
| Kortex | kortexbit.com | Unauthorised crypto-asset services |
The listed domains illustrate why a website count should not automatically be converted into a company count. A single operation may use one domain for advertising, another for customer logins and a third for a trading interface.
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Italian internet-service providers were still implementing the orders when CONSOB published the notice. The regulator warned that technical activation could take several days. A listed website could therefore remain temporarily accessible, particularly if providers have not completed the blocking process.
What the 1,769 figure actually measures
CONSOB said that it had ordered the blocking of 1,769 websites by 10 July 2026. Of these, 219 related to crypto-asset activity.
This is a count of websites blocked by the regulator. It is not necessarily:
- the number of separate businesses;
- the number of individuals behind the platforms;
- the number of criminal investigations;
- the number of convictions; or
- the number of investors who lost money.
A previous December 2025 announcement used a different measurement. CONSOB reported that it had closed 1,507 websites and blocked a further 763 web pages, giving a combined total of 2,270 individual web domains when the two categories were counted together.
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Those totals should not be added together or compared as though they use an identical definition. The later releases generally report “websites blocked”, while the December figure included websites and additional web pages.
The enforcement trend has been building for years
Website blocking became a significant CONSOB enforcement tool after powers were introduced in 2019. Its 2023 annual report recorded the following numbers:
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| Period | Websites blocked |
|---|---|
| July–December 2019 | 117 |
| 2020 | 237 |
| 2021 | 246 |
| 2022 | 215 |
| 2023 | 185 |
| Total through 2023 | 1,000 |
By December 2025, CONSOB said the cumulative website total had reached 1,507. It reported that 307 websites had been closed during 2025, including 196 linked to unauthorised investment services or illegal public offers and 111 connected with crypto-asset activity.
The total then reached 1,769 by 10 July 2026—an increase of 262 websites in roughly seven months. That rise reflects the regulator’s continuing action against conventional online investment platforms, as well as a significant enforcement focus on crypto services around the end of Italy’s transitional MiCAR period.
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The regulator’s actions cover several different types of suspected misconduct:
- Unauthorised investment services: offering services involving financial instruments without the necessary regulatory permission.
- Illegal public offers: promoting financial products without publishing the required prospectus.
- Unauthorised crypto services: providing crypto-asset services without the status required under the new European framework.
- Unauthorised advertising: promoting platforms that are not permitted to offer investment or trading services.
- Fraudulent promotions: using copied websites, fake social-media accounts, public figures’ identities or artificial-intelligence-generated media to create credibility.
In March 2026, CONSOB also ordered nine websites to be blocked and asked Meta to deactivate a Facebook profile promoting the unauthorised “Renditix AI” platform. That case shows that the regulator’s response is not limited to the website where a customer deposits money. Advertising profiles and social-media campaigns can be part of the same operation.
The legal basis for blocking access
For ordinary investment platforms, CONSOB relies on powers introduced by Italy’s 2019 Growth Decree, specifically Article 36(2-terdecies) of Law No. 58 of 28 June 2019. This allows the regulator to order internet providers operating in Italy to block access to websites used by unauthorised financial intermediaries.
CONSOB can also order an unauthorised operator to stop the conduct under Article 7-octies of Italy’s Consolidated Law on Finance, or TUF. The underlying prohibition is associated with Article 18 of the TUF, which reserves the commercial provision of investment services and activities to authorised entities.
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For crypto-asset services, CONSOB cited Article 94(1)(h) of the EU Markets in Crypto-Assets Regulation, known as MiCAR, together with Italy’s Legislative Decree No. 129 of 5 September 2024.
The crypto rule changed on 1 July 2026
Italy’s MiCAR transitional period ended on 30 June 2026. From 1 July, crypto-asset services to European clients are generally reserved for:
- entities authorised as crypto-asset service providers, or CASPs, under MiCAR; and
- already supervised intermediaries that had notified their intention to provide crypto-asset services.
CONSOB and the Bank of Italy said that nine entities were authorised in Italy at the end of the transition period.
This is important because an old OAM VASP registration is no longer enough by itself. During the transitional period, some operators registered as Italian virtual-asset service providers could continue operating while seeking MiCAR authorisation. That transitional position ended on 30 June 2026.
Consumers considering a crypto exchange, wallet service or trading platform should therefore check its current MiCAR status or qualifying supervised-intermediary status. A platform that says it is “registered with OAM” may be relying on information that no longer proves it can legally continue providing services in Italy.
The tactics being used against potential investors
CONSOB’s warnings describe a familiar but increasingly sophisticated set of tactics:
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- websites cloned from legitimate financial firms or public institutions;
- fake profiles and advertisements using the names or images of politicians, celebrities and business leaders;
- AI-generated audio, images and video presenting fabricated investment claims;
- separate domains for advertising, account access and web trading;
- replacement domains launched after an earlier site is blocked; and
- social-media campaigns designed to move users quickly from an advert to a deposit page.
These features can make a platform appear established even when the underlying operator is unknown. A polished interface, a familiar logo or a video featuring a public figure is not evidence of authorisation.
What a CONSOB block does—and does not—mean
A blocking order is an access restriction directed at internet providers in Italy. It is an important warning sign, but it is not the same as a worldwide shutdown or a court judgment.
It does not automatically mean that:
- the operator has been criminally convicted;
- the company’s assets have been seized;
- customers will be reimbursed;
- the site has disappeared from the rest of the internet; or
- every associated domain, payment account or social-media profile has been disabled.
Blocking can also take several days to become technically effective. If a listed site is still reachable from Italy, that should not be interpreted as evidence that CONSOB has withdrawn its action.
How to check an investment or crypto platform
Carry out the checks before sending identity documents, linking a bank account or making a deposit. A practical process is:
- Search CONSOB’s warnings. Use the regulator’s “Occhio alle truffe!” warnings area, listed under CONSOB and its activities → Warnings → Latests.
- Check the exact domain. Compare the spelling of the promotional website, login page and trading interface. A legitimate company’s name on one domain does not validate a different domain.
- Verify investment authorisation. Consult CONSOB’s Albi ed elenchi, its registers and lists of authorised entities. Also check its list of EU investment firms authorised in another member state without an Italian branch.
- For crypto services, check MiCAR status. Do not rely solely on an old OAM VASP registration. Look for MiCAR authorisation or another qualifying supervised-intermediary status.
- Check the product documents. For a financial product, look for the required prospectus. For a crypto-asset offer, check whether the relevant white paper has been published.
- Check the details independently. Use contact information from the regulator’s register rather than a phone number or email address supplied by the platform’s salesperson.
EU firms may legally provide investment services in Italy under cross-border arrangements. As a result, absence from an Italian domestic register is not, on its own, conclusive proof that a firm is unauthorised. The firm’s home-state authorisation and its permission to provide services in Italy also need to be checked.
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Act quickly, but be sceptical of anyone promising to recover the funds for an upfront fee. Contact your bank or card provider using its official number, explain that the payment may be connected to an investment scam and ask what recall, chargeback or fraud-reporting options are available.
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Preserve evidence, including:
- the original website address and screenshots;
- emails, messages and social-media adverts;
- payment confirmations and bank details;
- chat records with salespeople; and
- any identity documents or personal information submitted.
Report the matter to the relevant Italian authorities and notify CONSOB through its official channels. A CONSOB warning or blocking order does not itself guarantee reimbursement, so bank and law-enforcement steps should not be delayed.
FAQ
How many websites has CONSOB blocked?
CONSOB said it had ordered the blocking of 1,769 websites by 10 July 2026, including 219 relating to crypto-asset activity. The figure counts websites, not necessarily separate companies or criminal groups.
Does a CONSOB block shut down a website worldwide?
No. The order directs internet providers operating in Italy to restrict access from Italy. It may take several days to implement and does not necessarily remove the site, server, domain or payment channels elsewhere.
Is an OAM VASP registration still enough to operate in Italy?
No. Italy’s MiCAR transitional period ended on 30 June 2026. Continued crypto-asset services generally require MiCAR authorisation or another qualifying supervised-intermediary status.
Does appearing in a financial register mean every product is approved?
No. Authorisation of a firm does not automatically approve every product or promotion. Investors should also check whether the required prospectus or crypto-asset white paper has been published.
Can an EU investment firm operate in Italy if it is not on an Italian domestic list?
Potentially. EU-authorised investment firms may provide services in Italy under cross-border arrangements. Their home-state authorisation and permission to operate in Italy should be verified.
Will CONSOB return money lost to an unauthorised platform?
Not automatically. A blocking order is an investor-protection measure, not a reimbursement decision. Contact your bank or card provider promptly, preserve evidence and report the suspected fraud.
The Bottom Line
CONSOB’s latest action brings its reported total to 1,769 blocked websites, but the number should not be treated as a count of companies or convictions. For consumers, the immediate lesson is more practical: verify the exact platform and domain, check current authorisation, review the required prospectus or white paper, and do not assume that an old OAM VASP registration remains sufficient after Italy’s MiCAR transition ended.
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