Italian Regulator Moves to Block Multiple Unauthorised Investment Platforms

Italys financial markets watchdog, CONSOB, has taken new enforcement action against a group of online investment platforms that were found to be offering financial services without proper authorisation. The regulator confirmed that access to several websites is now being blocked for users in Italy as part of its ongoing campaign against illegal financial promotions.

Among the platforms affected by the latest blocking orders are Trade Point PTY, operating through the domain evpmarketgroup.com and its related client portal, as well as “Alfa Mercati,” which has been using multiple web addresses to provide access to its trading services. Other sites targeted include Horizons28, AIXA Miner Cloud Mining Investment Ltd, FYENERGY Cryptocurrency Investment Ltd, and Hodlwealth, all of which were offering investment-related products to the public without being registered with Italian authorities.

In many cases, these operators were using several domains to reach potential investors, a tactic regulators say is often intended to maintain online presence even when earlier websites are flagged or removed. CONSOB noted that the blocked platforms were promoting a wide range of financial and crypto-related investment services, despite lacking the legal approval required to operate in the Italian market.

With this latest round of interventions, the total number of websites blocked by CONSOB since July 2019 has now reached more than 1,500, highlighting the scale of unlicensed online investment activity targeting Italian consumers.

The regulator carried out the action using powers granted under Italys “Growth Decree,” which allows authorities to order the shutdown of websites linked to unauthorised financial intermediaries. Additional legal provisions introduced in 2020 also enable CONSOB to block websites used to promote abusive or misleading investment offers.

Internet service providers in Italy have already begun implementing the restrictions. However, CONSOB cautioned that technical processes mean the blackout may not take effect immediately across all networks, and some users may still temporarily reach the affected sites before full blocking is completed.

CONSOB continues to urge investors to verify whether a firm is properly authorised before transferring any funds and to remain cautious of unsolicited online investment offers, especially those promising unusually high or guaranteed returns.