National Consumer Commission has warns consumers against participating in pyramid schemes

SAfm — The National Consumer Commission has warned consumers against participating in pyramid schemes. The Commission briefed the media regarding its investigation into a pyramid scheme called Up Money. Acting Commissioner Thezi Mabuza says Up Money unlawfully exploited desperate South Africans during Covid-19. The scheme lured citizens by offering huge financial rewards and grocery packages if they participated and recruited more people to join. Pyramid schemes are prohibited under Scetion 43 of the Consumer Protection Act. Mabuza says more than 230-thousand people are reported to have been affected.