questra-world-logoOn October 27th Austria’s Financial Market Authority issued an investor warning against Questra World.

BehindMLM reviewed Questra World earlier this month and determined it to be a Ponzi scheme.

As per their website, Austria’s Financial Market Authority was ‘established in 2002‘ and ‘brings together the supervision of all significant providers and functions under a single roof.

With respect to Questra World, the FMA warns the company

is not entitled to carry out banking transactions in Austria that require a licence.

The provider is therefore not permitted to conclude money-lending agreements on a commercial basis and to extend monetary loans on a commercial basis (lending business pursuant to Article 1 para. 1 no. 3 BWG).

In a nutshell, promotion of Questra World in Austria is illegal.

The warning against Questra World in Austria comes just two months after a similar warning was issued in Belgium.

Belgian authorities claim Questra World (dba Questra Holdings) ‘has every appearance of being of a pyramidal type or at least of a Ponzi fraud.