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*Beware Of FAKE Investment Schemes - Ecocash*

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EcoCash, Zimbabwe’s largest mobile money platform has warned members of the public against Ponzi schemes that are in the market.

The Cassava Smartech subsidiary speaks amid reports that some founders of these schemes have disappeared with huge volumes of participants’ money. Reads the alert:

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WhatsApp: https://wa.me/+263715068543
Calls: 0772464000
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> WARNING !!

> Fraudulent Investment Schemes
Beware of FAKE investment schemes operating in the market. Some of them are offering unbelievable returns.
All deposit-taking institutions and investment schemes must be licensed by regulatory authorities and have an obligation to display their licenses to the public. Make sure to verify and confirm that you are dealing with a licensed institution before parting with your HARD EARNED money.

Earlier this year, national police spokesperson, Assistant Commissioner Paul Nyathi, said the police in conjunction with the Reserve Bank of Zimbabwe (RBZ), is conducting an operation to apprehend institutions behind some Pyramid and Ponzi schemes in violation of the country’s banking regulations.

The RBZ said all institutions offering financial services must be issued with licences before operations commence adding that entities involved in Ponzi and Pyramid schemes were carrying out banking activities in breach of the Banking Act (Chapter 24:20) and Section 5 of the Banking Act.

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