Central Bank launches Anti-Pyramid National Awareness Week

The Financial Consumer Relations Department of the Central Bank of Sri Lanka (CB)  is launching the ‘Anti-Pyramid National Awareness Week’ from July 14 to 18 under the theme of: “Pyramid is a trap – don’t get into the wrong track.”

This national initiative aligns with CB’s mandate to maintain financial system stability and to promote the well-being of financial consumers. The campaign aims to raise widespread awareness on prohibited pyramid schemes and the significant risks they pose to individuals and the broader economy, the banking regulator said in a media release.

The campaign is expected to generate substantial national awareness among a wide cross-section of the population, including School Students and Teachers, Officers of the Tri-Forces, Civil Security Department Personnel, Officers of Sri Lanka Police, Government Sector Employees and Public.

Outreach activities will be carried out through 6,172 schools and 14,022 Grama Niladhari (GN) divisions’ island-wide, ensuring extensive grassroot-level coverage and community engagement.

Throughout the awareness week, participants will be educated on legal provisions relating to prohibited pyramid schemes, the deceptive nature and structure of such business models, risks and financial consequences of investing in pyramid schemes, real-life accounts and painful experiences of victims.

A multi-platform media strategy will be utilized to ensure a broader and effective outreach. This includes newspaper advertisements, social media campaigns, educational posters, live-stream sessions, television and radio programmes, news taglines and public seminars across the country.

The CB  encourages all members of the public to actively participate in the campaign and stay informed. Awareness and vigilance are key to protecting oneself and others from financial fraud and preserving trust in the financial system.