The Central Bank of Sri Lanka (CBSL) has declared 22 companies and mobile applications as prohibited pyramid schemes, following investigations carried out under Section 83(C) of the Banking Act, No.

Both Ponzi and pyramid schemes have been reinvented over the years, but at the core of each is essentially the same devious deceit-paying new investors with money from old investors.

A collapsed Brazilian cryptocurrency business whose former manager is serving a prison sentence for his role in the company’s pyramid scheme has sought US bankruptcy court recognition to help it ...

CONSUMER INVESTIGATOR BRIAN ROACH HAS MORE. SO THIS SCAM STARTS WITH A CONVINCING INVITATION. EITHER BY EMAIL OR SOCIAL MEDIA, TO SIGN UP FOR A FUN GIFT EXCHANGE PROGRAM. ALL YOU HAVE TO DO IS PROVIDE ...

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

Scammers want you to believe they're offering you a legitimate money-making opportunity. Seniors are seen as prime targets due to the potential that they have money saved for retirement. If an ...

Kenyans protest after being conned by pyramid schemes. After waiting for years, the High Court on Thursday dashed the hopes of victims of multi-billion shilling pyramid schemes to recover their money.

Ponzi schemes pay out early investors with money from later investors. They differ from pyramid schemes in that Ponzi schemes are presented as investments with large returns, rather than business ...

The Central Bank of Sri Lanka (CBSL) has issued a public notice identifying 22 companies and mobile applications as prohibited pyramid schemes under Section 83(C) of the Banking Act, No. 30 of 1988, ...