Africa-Press – Angola. The National Bank of Angola (BNA) has instructed banking financial institutions to refrain from customer operations whenever there is suspicion of ponzi, pyramid and multilevel marketing (MMN) and similar schemes.
According to a circular letter, taken up on Monday (7th) by Angop, the BNA, through the Department of Financial Conduct, states that it has received requests for clarifications and complaints from consumers of financial products and services related to alleged solutions. of investment with promises of large profits, involving bank deposit accounts domiciled in banks operating in the national market.
A Ponzi scheme is considered a fraudulent investment program. It involves using payments received from new investors to compensate past investors. While the pyramid scheme also known as the “financial pyramid” is a predictably unsustainable business model that basically relies on progressively recruiting others into the scheme at unsustainable levels.
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