System scope and legal framework

Four commitments on the system’s scope

• It documents, and leaves qualification to the authority.

  Every detection arrives with the indicators that produced it, the model, the dated copy and its position in the log: legal qualification belongs to the competent body.

• It keeps detected domains confidential.

  Detected domains are seen only by authorised accounts, in the console; in these pages the specimen has its domain redacted.

• It prepares the report, not the signature.

  A request for information, a blocking order, a report to registrars and hosting providers: the system prepares the case file they rest on and leaves them to the legal order’s procedures, without communicating with third parties in an authority’s name.

• It handles public content only.

  The analysis covers the public content of the pages and the public data of certificate logs: that is everything the system handles.

Position with respect to investigative powers

The material collected supports the investigative and intervention powers the legal order gives the authority against unauthorised investment offerings. The references below outline, for orientation, the context in which a case file is read.

• MiFID II

  The European framework for investment services and firms’ authorisation requirements.

• MiCA

  The European framework for crypto-asset services and authorised providers.

• Italy, TUF art. 7-octies

  The authority’s power to order connectivity providers to interrupt access to sites through which investment services are offered without authorisation.

• France, Monetary and Financial Code art. L621-13-5

  The AMF chair’s formal notice to operators offering investment or crypto-asset services online without authorisation, and the procedure to prevent access to their sites.

In the system’s documents severity is a technical measure; the link between a detection and an offence is made by the authority.

InvestShield is independent: it is neither affiliated with nor authorised by any supervisory authority, and naming an authority in these pages indicates an addressee or a public source.

Data processed and location of the infrastructure

The detection pipeline processes the public content of pages and the public data of certificate logs. Infrastructure, data and text analysis are in the European Union; the database is in the Milan region.

Preserved copies may contain what the public page showed to anyone, including names or contact details written by the site operator: they are kept for the inquiry, accessible only to authorised accounts, and viewed in a viewer that runs the HTML in isolation.

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