ASB has blocked all credit card electronic transactions to Italy (this week)

I tried a couple of days ago to purchase a domain from a reputable Italian provider and for the first time it was denied. I managed do it via Paypal though.
Today ASB rang me to say that credit card transactions to the whole italian country are blocked, as a (hopefully) temporary measure. Here's their e-mail:

Recently you attempted a transaction at an Italian merchant.  This transaction was declined.  Unfortunately we have had to take action to prevent any and all transactions from being processed at any Italian merchant where the card is not present.  This is a result of recent fraud activity and while we understand that this has inconvenienced you, and we apologise for this inconvenience, we feel this is necessary to protect our customers by preventing any possible  fraud.  Should you be travelling to Italy your card will be accepted where you present it at the merchant just not available for internet, mail order or phone transactions.