CBSL’s Anti-Pyramid National Awareness Week from tomorrow

The Central Bank of Sri Lanka (CBSL) will launch the ‘Anti-Pyramid National Awareness Week’ from tomorrow (14).

Accordingly, the ‘National Awareness Week’ launch by the Financial Consumer Relations Department of the CBSL will be worked off until July 18, under the theme of: “Pyramid is a trap – don’t get into the wrong track.”

The campaign aims to raise widespread awareness of prohibited pyramid schemes and the significant risks they pose to individuals and the broader economy, the CBSL noted.

It 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 the general public.

The Central Bank stated that 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 programs, news taglines, public seminars across the country.

The CBSL said it encourages all members of the public to actively participate in the campaign and stay informed.

Awareness and vigilance are key to protecting individuals from financial fraud and preserving trust in the financial system, the CBSL added.