Italy's Companies and Exchange Commission (CONSOB) has banned four new websites offering financial services without the necessary authorisation.。

The sites targeted by the latest command are:

• “Mango Group LLC”
• “FX6”
• “Trade 4 Nation”
• “Velohld”

In issuing the order, the Authority took advantage of the powers conferred by the "Decreto crescita" ("Growth Decree" - Law No. 58 of 28 June 2019, article 36, paragraph 2 - Decree).。According to the decree, Consob can order Internet service providers to block access from Italy to websites that offer financial services without proper authorization.。

Since July 2019, when Consob was empowered to order the blocking of websites of fraudulent financial intermediaries, the number of blocked websites has risen to 959.。

The blocking of these sites by Internet service providers operating in Italy is still ongoing.。For technical reasons, implementing the lockdown could take days。

Consob draws the attention of investors to the fact that in order to make wise investment choices, best efforts must be made, and common-sense behavior is essential to protect funds.。These include that for websites that provide financial services, they should check in advance whether the operator in which they invest is authorized; for websites that provide financial products, they should check whether they have published a prospectus。

To this end, Consob reminds the public, at www.consob.The homepage of the it website has a "Beware of scams!" section that provides useful information to alert investors to financial fraud.。