CBSL Blacklists 24 Entities for Prohibited Pyramid Schemes 🚫

The Central Bank of Sri Lanka (CBSL) has issued a formal notice identifying 24 entities and apps as prohibited schemes under Section 83C of the Banking Act, No. 30 of 1988. This follows investigations confirming these groups promoted unlawful financial structures. • New Additions: I.C.A.N Advertising (Pvt) Ltd and its affiliates (bannercuts.com, etc.) are the latest to be officially prohibited following CBSL investigations. • Key Prohibited Entities: • OnmaxDT, MTFE App (and its various SL groups), and Ledger Block. • Global Lifestyle Lanka, Best Life International, and Tiens Lanka Health Care. • Qnet/Questnet, Sport Chain, and Fruugo Online. • Fastwin (Pvt) Ltd, Windex Trading, and Beecoin App. • Regulatory Context: Engaging in or promoting these schemes is a criminal offense. The CBSL warns that these activities pose significant risks to the financial sector and individual consumer savings, often masking themselves as ICT or e-commerce opportunities. • Status: Based on official CBSL determinations as of Feb 26, 2026.