By BUUMBA CHIMBULUA deliberate policy action to stop Ponzi and Pyramid schemes from rebranding and continue their operations is needed, says Bankers Association of Zambia.A Ponzi scheme is a fraudulent investment scam promising high rates of return with little risk to investors.On the other hand, a pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of product.BAZ Public Relations Officer, Mirriam Zimba, observed that Ponzi and Pyramid schemes were in the habit of re-branding and coming back with a similar product under a different company name.“There are a lot of organisations that are Pyramid or Ponzi schemes, and the moment they are flagged, there may be need for a deliberate policy action to stop these companies from simply re-branding and continuing their operations.“This is because they re-brand and come back with a similar product under a […]
STOP PONZI SCHEMES, DEMAND BANKERS
