CBSL updates list of prohibited pyramid schemes

The Central Bank of Sri Lanka (CBSL) has issued a special notice regarding prohibited pyramid schemes.

According to the notice, the CBSL has determined that Pro Care (Pvt) Ltd and Shade of Procare (Pvt) Ltd have been operating illegal pyramid schemes in violation of Section 83(c) of the Banking Act, No. 30 of 1988, as amended.

In addition, the CBSL has informed the general public about other institutions that have engaged in pyramid schemes, as outlined under Section 83(c) of the same banking act.

• Tiens Lanka Health Care (Pvt) Ltd
• Best Life International (Pvt) Ltd
• Mark – Wo International (Pvt) Ltd
• V ML International (Pvt) Ltd
• Redacted BY CBSL
• Fast3Cycle International (Pvt) Ltd
• Sport Chain app, Sport Chain zs society Sri Lanka
• OnmaxDT
• MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group
• Fastwin (Pvt) Ltd
• Fruugo Oline App/ Fruugo Oline (Pvt) Ltd
• Ride to Three Freedom (Pvt) Ltd
• Qnet
• 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/ Netrrix