Sri Lanka Regulator Lists Max App Media as Prohibited Pyramid Schemes

Sri Lanka regulator lists Max App Media as prohibited pyramid schemes

ECONOMYNEXT – Sri Lanka’s central bank has listed Max App Media Ltd and its affiliates as prohibited pyramid schemes and warned the public against dealing with them. “The Central Bank of Sri Lanka has conducted an investigation and ascertained and determined that “Max App Media Ltd. together with its affiliated Max LK (Pvt) Ltd., Max Media Lanka (Pvt) Ltd.” had engaged, conducted and promoted a prohibited scheme,” the regulator said. The followi…

Central Bank declares 27 companies and apps prohibited schemes under Banking Act

Central Bank declares 27 companies and apps prohibited schemes under Banking Act

CBSL Flags 27 Companies, Apps and Entities as Prohibited Schemes - LNW Lanka News Web

CBSL Flags 27 Companies, Apps and Entities as Prohibited Schemes

Sri Lanka’s Regulator Blacklists Max App Media Over Alleged Pyramid Scheme Activities

The Central Bank of Sri Lanka has classified Max App Media Ltd and two associated companies as prohibited pyramid schemes, advising the public not to engage with them. Following an investigation, …

Central Bank extends prohibited companies list to 27

The Central Bank of Sri Lanka (CBSL) has extended its list of prohibited pyramid schemes to 27, following the addition of Max App Media Ltd. and its affiliated companies. In a statement issued today (28), the CBSL announced that investigations had determined that Max App Media Ltd., together with its affiliates Max LK (Pvt) Ltd. and Max Media Lanka (Pvt) Ltd., had engaged in, conducted and promoted a prohibited pyramid scheme. The determination …

Central Bank declares 27 companies and apps prohibited schemes

The Central Bank of Sri Lanka (CBSL) has declared 27 companies, applications and organisations to be prohibited schemes following investigations conducted under Section 83(C) of the Banking Act, No. 30 of 1988, as amended.