Central Bank of Sri Lanka warns people of pyramid schemes

According to CBSL, these schemes promise individuals the opportunity to make easy money or quick profits through trading goods or virtual currencies, with little effort required. Such schemes are in violation of Sri Lankan law.

The CBSL has identified a number of companies that are operating pyramid schemes and has made this information available to the public through the media. However, the bank emphasizes that the list is not exhaustive, as there may be other schemes still under investigation.

The bank also cautions that some promoters of pyramid schemes use popular public sporting and religious events as a means to attract new participants. They often utilize promotion codes or organizational codes for enrolling individuals.

The CBSL advises the public to remain vigilant and avoid any direct or indirect involvement in pyramid schemes, as this can lead to legal consequences..