Illegal Quest

GoldQuest, the controversial network marketing scheme, is now illegal in Sri Lanka after its scam drained US$ 15 million in foreign exchange from the country, the Central Bank said Friday.

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GoldQuest, the controversial network marketing scheme, is now illegal in Sri Lanka after its scam drained US$ 15 million in foreign exchange from the country, the Central Bank said Friday. The Central Bank rushed through amendments to the Banking Act, banning pyramid style schemes, but not before few thousand people parted with their cash.

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Special Unit

Sri Lanka's Central Bank has set up a special committee to probe illegal activities that violate monetary laws.

Headed by a senior Central Banker, the special unit is also staffed by three permanent officials from the Criminal Investigations Dept, Central B