Thursday Nov 20, 2025
Thursday Nov 20, 2025
Thursday, 20 November 2025 04:39 - - {{hitsCtrl.values.hits}}
The Central Bank of Sri Lanka (CBSL) has declared 22 companies and mobile applications as prohibited pyramid schemes, following investigations carried out under Section 83(C) of the Banking Act, No. 30 of 1988.
In a notice issued to the public, the CBSL said its inquiries confirmed that “SGO/sgomine.com” had been engaging in, conducting, and promoting a pyramid-type operation. It added that a further 22 entities have also been identified as running similar schemes.
The list includes Tiens Lanka Health Care Ltd., Best Life International Ltd., Mark-Wo International Ltd., VML International Ltd., Global Lifestyle Lanka Ltd., Fast3Cycle International Ltd., Sport Chain app/Sport Chain ZS Society Sri Lanka, OnmaxDT, MTFE App, and its associated groups, Fastwin Ltd., Fruugo Online App/Fruugo Online Ltd., Ride to Three Freedom Ltd., Qnet/Questnet, Era Miracle Ltd. and Genesis Business School, Ledger Block, Isimaga International Ltd., Beecoin App and Sunbird Foundation, Windex Trading, Enrich Life Ltd., Smart Win Entrepreneur Ltd., Net Fore International Ltd.,/Netrrix, and Pro Care Ltd., and Shade of Procare Ltd.
The CBSL cautioned the public that participation in or promotion of such schemes exposes individuals to substantial financial losses and creates broader risks for the economy. It urged consumers to exercise due diligence and avoid engaging with entities operating outside the legal and regulatory framework.
