Mido Finance has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).

As per the CNMV’s December 20th warning, Mido Finance

is not authorised to provide the investment services set out in Article 140 of the Spanish Securities Markets Act, which include investment advice.

This is the equivalent of a securities fraud warning in other jurisdictions.

The CNMV’s warning follows New Zealand, who issued their own Mido Finance warning last month.

BehindMLM reviewed Mido Finance in November 2021. Based on its business model, we concluded it was a Ponzi scheme.

Mido Finance represents it is incorporated in the UAE, which in and of itself is an additional red flag.

As per Alexa’s analysis of traffic to Mido Finance’s website, the scam has seen an uptick of traffic over the past few months.

Presently top sources of traffic to Mido Finance’s website are Colombia (8%), Egypt (7%) and Vietnam (6%).

The low percentages suggest Mido Finance promotion is widespread.