SEC cautions investors on patronising fake Italian e-commerce websites


The Securities and Exchange Commission, regulator of the Nigerian capital market, has warned investors and operators not to patronise five blacklisted Italian e-commerce websites, so as not to lose their hard-earned money.

According to SEC, the five companies which have been blacklisted by the Italian Securities Regulator, (Commissione Nazionale per le Soecieta’ e la Borsa – CONSOB) for engaging in offering unauthorized and fraudulent financial services to unsuspecting investors are not registered to operate in the country.

The blacklisted websites are: CMS Ltd (, with its page; Bitsterzio(; Invest Atlas (; Ether-Arena Ltd (; and Ether-Arena Ltd (, with its page: https://clientzone, ).

SEC warned that any person dealing with the above mentioned e-commerce websites is doing so at his/her own risk.

The CONSOB ordered Internet Service Providers operating in Italy to block public access to the blacklisted websites and called on prospective investors to adopt the greatest diligence in making investment choices and common sense behaviors essential to safeguarding one’s savings, including checking the registration status or otherwise of such e-commerce websites.