These types of entities have started to proliferate in Namibia and ordinary citizens are continuously lured with unbelievable testimonies of opportunities on how to get themselves out of poverty. The downside is however, that entire families, households and even pensioners are targeted and may loose their hard earned cash and suffer at the hands of these schemes.
In our efforts to protect consumer and the general public, the Banking Institutions Amendment Act of 2010 made the participation and operation of such schemes a criminal offence.