BoZ orders ponzi schemes to stop illegal operations
Published On June 29, 2023 » 934 Views» By Times Reporter » Business, Stories
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. Kalyalya

By ANDREW MULENGA –
THE Bank of Zambia (BOZ) has warned ponzi scheme organisers to cease their illegal operations or face the full wrath of the law. BoZ Governor Denny Kalyalya said these schemes were in contravention of the Banking and Financial Series Act (2017) as they involve the provision of a financial service without a license.

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