Central Bank Issues Warning Against Pro Care Pyramid Schemes, Citing Banking Act Violations

The Central Bank of Sri Lanka has determined Pro Care (Pvt) Ltd., Shade of Procare (Pvt) Ltd have engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended.

Further, the following Companies/Apps have also been determined as prohibited schemes under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended.

Tiens Lanka Health Care (Pvt) Ltd

Best Life International (Pvt) Ltd

Mark – Wo International (Pvt) Ltd

V M L International (Pvt) Ltd

Fast3Cycle International (Pvt) Ltd

Sport Chain app, Sport Chain zs society Sri Lanka

OnmaxDT

MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group

Fastwin (Pvt) Ltd

Fruugo Oline App/ Fruugo Oline (Pvt) Ltd

Ride to Three Freedom (Pvt) Ltd

Qnet

Era Miracle (Pvt) Ltd and Genesis Business School

Ledger Block

Isimaga International (Pvt) Ltd

Beecoin App and Sunbird Foundation

Windex Trading

The Enrich Life (Pvt) Ltd

Smart Win Entrepreneur (Pvt) Ltd

Net Fore International (Pvt) Ltd/ Netrrix

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