🚨 CBSL Declares "Infinity Rover" & 23 Others Illegal Pyramid Schemes

The Central Bank of Sri Lanka (CBSL) has officially declared Infinity Rover (Pvt) Ltd and 23 other entities/apps as prohibited schemes under Section 83 (C) of the Banking Act, No. 30 of 1988. • The Investigation: Following an official investigation, CBSL ascertained and determined that these companies and applications have engaged in, conducted, and promoted illegal pyramid structures. • Prohibited Entities: The banned operations span physical companies, online applications, and trading platforms impacting local finance & retail channels. Notable names on the updated prohibition list include: Infinity Rover (Pvt) Ltd OnmaxDT MTFE App (including MTFE SL Group, Success Lanka, DSCC Group) Global Lifestyle Lanka (Pvt) Ltd Qnet / Questnet Tiens Lanka Health Care (Pvt) Ltd Best Life International (Pvt) Ltd Fruugo Oline App / Fruugo Oline (Pvt) Ltd SGO / sgomine.com C.A.N. Advertising (Pvt) Ltd (and affiliates like bannercuts.com) • National Impact: Such schemes pose severe risks to public savings, consumer protection, and the stability of the broader financial services sector. CBSL issues these determinations to safeguard the public from unauthorized fund-mobilization networks.