⚠️ CBSL Issues Notice on Prohibited Pyramid Schemes: Max App Media Ltd Added

• Regulatory Enforcement: The Central Bank of Sri Lanka (CBSL), through its Financial Consumer Relations Department, has officially identified and declared Max App Media Ltd. and its affiliated entities (Max LK (Pvt) Ltd. and Max Media Lanka (Pvt) Ltd.) as operating prohibited pyramid schemes under Section 83 (C) of the Banking Act, No. 30 of 1988. • Updated List of Prohibited Schemes: CBSL re-issued its comprehensive list of 27 prohibited schemes/apps operating in Sri Lanka to protect the financial sector stability and investor interest. Notable entries include: • Digital & App Platforms: Max App Media Ltd., TM App, OnmaxDT, MTFE App, Sport Chain app, Ledger Block, Beecoin App, SGO/sgomine.com, and Fruugo Oline App. • Corporate Entities: Tiens Lanka Health Care, Best Life International, Global Lifestyle Lanka, Fastwin (Pvt) Ltd, Qnet/Questnet, and I.C.A.N. Advertising. • Key Context: Under Section 83 (C) of the Banking Act, participating in, promoting, or initiating prohibited financial schemes is an offence subject to legal action, aiming to safeguard public savings and clean up the broader financial services ecosystem.