Questra World are triggering regulatory alarm bells all across Europe, with the latest seeing the Bank of Slovakia issuing a warning.

In a July 24th notice to the public, the National Bank of Slovakia warns Questra World and Atlantic Global Asset Management

offer investment products without fulfilling the legal obligations of the Slovak Republic and does not have any license to operate.

Questra World is a Ponzi scheme launched late last year. Although fronted in Spain, through Atlantic Global Asset Management the company is tied to Russian scammers and African banking channels.

The National Bank of Slovakia state that neither Questra World or Atlantic Global Asset Management are

authorized to do business in the Slovak Republic.

At the same time, the National Bank of Slovakia does not register the listed company as a provider of investment services under a single European authorization.

The business of Atlantic Global Asset Management is not subject to supervision by the National Bank of Slovakia, and funds invested in Atlantic Global Asset Management are not covered by the Investment Guarantee Fund under the Securities and Investment Services Act.

What the regulator is essentially stating is that, once Questra World collapses, investors in Slovakia will not be protected under local investment protection laws.

At the time of publication Alexa identify the top sources of traffic to the Questra World website as Germany (13%), Russia (11%), Kazakhstan (6%), Italy (6%) and Spain (6%).

Since November, 2016 authorities in Austria, Belgium, Liechtenstein, the UKPoland and Italy have announced investigations into Questra World and/or issued warnings.