Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.
This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.
According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.
The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.
However, it was noted that not a single case has been filed to date.
The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).
