CBSL names 25 companies and apps to avoid - Newswire

The Central Bank of Sri Lanka (CBSL) has announced that Infinity Rover (Pvt) Ltd has been determined to have engaged in, conducted and promoted a prohibited pyramid scheme following an investigation under Section 83(C) of the Banking Act, No. 30 of 1988, as amended.

In a notice issued today (July 1), the CBSL also updated its list of entities identified as prohibited pyramid schemes, bringing the total number of listed companies, apps and entities to 25.

The newly added entity is Infinity Rover (Pvt) Ltd, while the updated list continues to include entities such as Qnet/Questnet, MTFE App and its affiliated groups, OnmaxDT, Fastwin (Pvt) Ltd, Ledger Block, Sport Chain, SGO/sgomine.com and several others previously identified by the Central Bank.

The Central Bank urged the public to exercise caution and avoid participating in such prohibited schemes, which are banned under Sri Lanka’s Banking Act. (Newswire)

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