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CRITICAL THREAT · Financial Fraud

CONSOB Issues Urgent Warnings Against Unauthorized Investment Websites

The Italian Companies and Exchange Commission (CONSOB) has issued multiple urgent orders to block access to numerous websites illegally providing investment and crypto-asset services to Italian investors. These unauthorized platforms often operate without the required regulatory authorization and have been known to use deceptive tactics, including the impersonation of public figures and the misuse of official documentation.

10/23/2026Web-based investment platformsCrypto-asset trading servicesEmail communication channels

Warning signs

  • Unsolicited emails or messages claiming to be from regulatory bodies like CONSOB
  • Requests for money or personal data to 'unlock' or recover fictitious investment funds
  • Websites offering investment or crypto-asset services without clear regulatory authorization
  • Use of fake certificates or improper references to public figures to build credibility
  • Pressure to make quick investment decisions or provide sensitive information

What you should do

  • Verify the authorization of any investment firm via the official CONSOB website before engaging
  • Check the 'Watch out for scams!' section on the CONSOB website for updated lists of blocked sites
  • Never provide personal data or money in response to unsolicited communications claiming to be from a regulator
  • Report suspicious financial activities or imposter communications to local authorities
  • Consult official regulatory databases (such as those provided by IOSCO) to confirm a firm's legitimacy
CONSOB continues to actively combat financial fraud by ordering the shutdown of websites that operate without legal authorization. As of October 2026, the regulator has blocked hundreds of sites since January 2025 for the unauthorized provision of investment and crypto-asset services. These fraudulent entities frequently target savers by promising high returns or claiming to help users 'unlock' fictitious funds. CONSOB explicitly warns that it does not promote investment opportunities, does not solicit the public for financial initiatives, and never requests money or personal data for investment purposes. Investors are urged to verify the authorization status of any financial operator before transferring funds or sharing sensitive information.

Sources

https://www.consob.it/web/consob-and-its-activities/w/press-release-of-15-october-2026https://www.consob.it/web/consob-and-its-activities/w/watch-out-for-scams-illegal-financial-activities-consob-blocks-4-websites-press-release-of-9-october-2026https://fxnewsgroup.com/forex-news/regulatory/italys-consob-orders-blocking-of-websites-of-gmtrade-and-incomemax/https://www.consob.it/web/consob-and-its-activities/-/warning-fraudulent-emails-purporting-to-come-from-consob-23-july-2026https://www.consob.it/web/consob-and-its-activities/warnings/latests