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Deputy Minister Blames Previous Govt for Shortages of Essentials Deputy Minister Blames Previous Govt for Shortages of Essentials
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Deputy Minister Blames Previous Govt for Shortages of Essentials

Editor December 21, 2024
Deputy Minister of Vocational Education Nalin Hewage has stated that the previous government must bear responsibility for...
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Bus Accident on Hatton-Kandy Road: 3 Dead, 30 Injured Bus Accident on Hatton-Kandy Road: 3 Dead, 30 Injured
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Bus Accident on Hatton-Kandy Road: 3 Dead, 30 Injured

Editor December 21, 2024
A private bus traveling along the Hatton-Kandy road met with a tragic accident in the Mallawaappu area...
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CID Investigates Misuse of ‘Dr.’ Title in Parliament Records CID Investigates Misuse of 'Dr.' Title in Parliament Records
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CID Investigates Misuse of ‘Dr.’ Title in Parliament Records

Editor December 21, 2024
The Criminal Investigation Department (CID) has initiated an inquiry into the use of the title “Dr.” before...
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Kasilingam Accuses Government of Broken Promises and Policy Failures Kasilingam Accuses Government of Broken Promises and Policy Failures
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Kasilingam Accuses Government of Broken Promises and Policy Failures

Editor December 21, 2024
Sri Lanka Podujana Peramuna’s Jaffna District Chief Organizer, Geethanath Kasilingam, has accused the current government of failing...
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Western Province Drives Economic Growth in 2023 Western Province Drives Economic Growth in 2023
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Western Province Drives Economic Growth in 2023

Editor December 21, 2024
The Western Province emerged as the leading contributor to Sri Lanka’s economy in 2023, accounting for 43.7%...
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Global Rating Agencies Signal Positive Shift in Sri Lankan Economy Global Rating Agencies Signal Positive Shift in Sri Lankan Economy
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Global Rating Agencies Signal Positive Shift in Sri Lankan Economy

Editor December 21, 2024
Fitch Ratings has raised Sri Lanka’s long-term foreign currency issuer default rating (IDR) to ‘CCC+’ from ‘RD’...
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Sri Lanka Cricket Implements Historic Amendments to Constitution Sri Lanka Cricket Implements Historic Amendments to Constitution
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Sri Lanka Cricket Implements Historic Amendments to Constitution

Editor December 20, 2024
Sri Lanka Cricket (SLC) has made a landmark move to modernize its governance structure by implementing historic...
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“No Party Inquiry into Ashoka Ranwala’s Qualification Controversy”- NPP inquiries
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“No Party Inquiry into Ashoka Ranwala’s Qualification Controversy”- NPP

Editor December 20, 2024
The National People’s Power (NPP) has stated that there is no need for a party-level inquiry into...
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CBSL Issues Warnings Against 20 Pyramid Schemes **Central Bank of Sri Lanka Issues Warnings Against 20 Pyramid Schemes** The Central Bank of Sri Lanka (CBSL) has issued a strong warning to the public about 20 entities accused of violating the provisions of the Banking Act, emphasizing the growing threat posed by pyramid schemes to the country’s financial stability. The CBSL has been actively working with law enforcement authorities to file charges against individuals and organizations that contravene Section 83C(1) of the Banking Act. These efforts aim to safeguard the public from fraudulent financial activities and ensure the integrity of the financial system. Since 2011, the Central Bank has initiated investigations and legal action against several institutions under Section 83C(3) of the Banking Act. These investigations seek to determine whether entities have violated or attempted to violate financial regulations. The CBSL revealed the following 20 organizations as entities of concern: 1. Tiens Lanka Health Care (Pvt) Ltd 2. Best Life International (Pvt) Ltd 3. Mark-Wo International (Pvt) Ltd 4. V ML International (Pvt) Ltd 5. Fast3Cycle International (Pvt) Ltd 6. Sport Chain App, Sport Chain ZS Society Sri Lanka 7. Onmax DT 8. MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group 9. Fastwin (Pvt) Ltd 10. Fruugo Online App/Fruugo Online (Pvt) Ltd 11. Ride to Three Freedom (Pvt) Ltd 12. Qnet 13. Era Miracle (Pvt) Ltd and Genesis Business School 14. Ledger Block 15. Isimaga International (Pvt) Ltd 16. Beecoin App and Sunbird Foundation 17. Windex Trading 18. The Enrich Life (Pvt) Ltd 19. Smart Win Entrepreneur (Pvt) Ltd 20. Net Fore International (Pvt) Ltd | Netrrix The CBSL reiterated the importance of public vigilance, warning against participation in such schemes that often promise unrealistic returns but lead to financial loss for investors. Legal action has been taken against several of these organizations, and investigations into others are ongoing. The CBSL urges the public to report suspicious financial activities and verify the legitimacy of financial institutions before making investments. By raising awareness, the Central Bank aims to reduce the impact of fraudulent schemes and maintain trust in Sri Lanka’s financial sector.
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CBSL Issues Warnings Against 20 Pyramid Schemes

Editor December 20, 2024
The Central Bank of Sri Lanka (CBSL) has issued a strong warning to the public about 20...
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Supreme Court Confirms Death Sentence for Vass Gunawardena and Others Supreme Court Confirms Death Sentence for Vass Gunawardena and Others
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Supreme Court Confirms Death Sentence for Vass Gunawardena and Others

Editor December 20, 2024
The Colombo High Court announced today that the Supreme Court has upheld the death sentence for five...
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