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Colombo Magistrate orders CBSL to act against illegal pyramid schemes

Colombo Magistrate orders CBSL to act against illegal pyramid schemes

19 Dec 2024 | BY Staff Writer

Colombo Chief Magistrate Thilina Gamage has directed the Central Bank of Sri Lanka (CBSL) to take immediate action to combat illegal pyramid schemes in the country. 


The CBSL has been instructed to report on its progress within three months. 


Accordingly, the court emphasised the importance of preventing such schemes, which have affected many individuals, and instructed CBSL and the Criminal Investigation Department (CID) to enforce the law.


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