Samoa's Central Bank has issued a warning to local pyramid scheme operators that they face criminal charges if caught by a Financial Intelligence Division investigation.
The warning comes after the bank received a report of people involved in gifting and re-gifting money in a suspected pyramid scheme
Samoa's Central Bank has issued a warning to local pyramid scheme operators that they face criminal charges if caught by a Financial Intelligence Division investigation.
The warning comes after the bank received a report of people involved in gifting and re-gifting money in a suspected pyramid scheme.
A number of sources said people had also been asked to invest $US25 and in 10 days they would receive $75 with the more people registered the more money received.
A source said the scheme had drawn a lot of interest from locals.
The Central Bank has warned the scheme could end with people losing their money.
Photo source RNZ Pacific Caption: Central Bank of Samoa