Pyramid Warning

The Sri Lanka Banks Association (SLBA) warned the public not to invest in get-rich-quick pyramid schemes, which may result in losses.
Pyramid schemes are money making methods that have one person recruiting several others, with each person paying a recruitment fee, or overpriced goods.rn

rnThe build up of the network of participants, starting from one person, is what earns these instruments the term lquote pyramid scheme.rn

rnUltimately however, the scheme snowballs and collapses.rn

rnOfficers of top local banks and at least one foreign bank have been peddling pyramid schemes among themselves and customers.rn

rnldblquote It has been brought to our notice the involvement in various quick money making schemes by employees of various mercantile organizations including financial institutions,
dblquote says the SLBA.rn

rnThe SLBA notes that these schemes, offer attractive returns and are publicized through high quality impressive looking brochures.rn

rnldblquote Since it appears that staff of s