The regulatory authority said investigations revealed that I.C.A.N Advertising (Pvt) Ltd and several affiliated websites had engaged in conducting and promoting a prohibited scheme. The move comes as part of broader efforts to protect the public from financial fraud and unauthorized investment operations.
Among the entities identified by the Central Bank are Tiens Lanka Health Care (Pvt) Ltd, Best Life International (Pvt) Ltd, Mark–Wo International (Pvt) Ltd, VML International (Pvt) Ltd, Global Lifestyle Lanka (Pvt) Ltd, Fast3Cycle International (Pvt) Ltd, Sport Chain app and Sport Chain zs society Sri Lanka, OnmaxDT, MTFE-related groups, Fastwin (Pvt) Ltd, Fruugo Oline App, Ride to Three Freedom (Pvt) Ltd, Qnet/Questnet, Era Miracle (Pvt) Ltd and Genesis Business School, Ledger Block, Isimaga International (Pvt) Ltd, Beecoin App and Sunbird Foundation, Windex Trading, The Enrich Life (Pvt) Ltd, Smart Win Entrepreneur (Pvt) Ltd, Net Fore International (Pvt) Ltd/Netrix, Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd, SGO/sgomine.com, and I.C.A.N Advertising (Pvt) Ltd along with its affiliated domains.
The CBSL stressed that pyramid schemes are illegal in Sri Lanka and warned that participants risk significant financial losses. The Bank urged the public to exercise caution when approached with high-return investment opportunities and to verify whether institutions are authorized before committing funds.
The announcement signals a renewed regulatory focus on curbing unauthorized financial schemes amid growing concerns over digital and app-based investment platforms targeting the public.
