Beware of pyramid schemes, warns Council
March 22, 2021 5:30 am
All pyramid schemes eventually collapse and create havoc on people’s finances and personal relationships.
This was the sentiment shared by Consumer Council Chief Executive Seema Shandil regarding recent reports of pyramid schemes.
The Council has received reports and tip-offs from concerned Fijians on the increasing number of people participating in pyramid gifting schemes.
Shandil says Fijians from all over the country are being approached or are already participating in these ‘get rich quick schemes’.
“What people need to understand is that this is illegal. If a scheme is illegal, they are doing something illegal, and also as per our FCCC 2010 Act section (87) (a) very clearly specifies what pyramid scheme is and how it is an offense. So if you are into this, you are doing something illegal.”
Shandil says the scammers are taking advantage of the current crisis and preying on people desperate to make money fast.
She is calling on all Fijians to educate their family and friends to refrain from putting their hard-earned money in the hands of masked strangers.