The Central Bank of Sri Lanka (CBSL) today launched the ‘Anti-Pyramid National Awareness Week’ to run till July 18, under the theme “Pyramid is a trap – don’t get into the wrong track.” Organised by the CBSL’s Financial Consumer Relations Department, the campaign aims to raise public awareness on the dangers of prohibited pyramid schemes and their harmful impact on individuals and the economy.

Pyramid schemes are a serious financial threat in Sri Lanka, as confirmed by authorities and research. They operate illegally under the guise of legitimate businesses, like multi-level marketing (MLM) ventures, and target vulnerable individuals with promises of quick and high returns.

Outreach activities will span 6,172 schools and 14,022 Grama Niladhari divisions, targeting students, teachers, armed forces, police, civil security, government employees and the general public. Participants will be educated on the legal, financial and emotional consequences of pyramid schemes, including real-life victim testimonies.

A multi-platform strategy involving newspapers, social media, live-streams, radio, TV and public seminars will ensure wide engagement. CBSL urged all citizens to stay informed, noting that awareness is key to preventing financial fraud.