Colombo (LNW): Anyone involved in illegal pyramid schemes will be punishable by criminal law, said Finance State Minister Ranjith Siyambalapitiya, introducing new measured aimed at addressing the issue of pyramid schemes.
In a statement, the Ministed pointed out that both individuals are organisations involved in such schemes will be held accountable under criminal law.
The move comes in in the government’s initiative of strengthening regulations and penalties associated with such fraudulent financial schemes.
He added that the government of Sri Lanka intends to collaborate with law enforcement agencies and financial institutions to swiftly detect and take action against illegal schemes such as pyramid schemes.
