Pyramid scheme launches climb to highest in 5 years

More than 400 new multi-level-marketing pyramid schemes were launched in India in 2023, the highest in five years, according to Strategy India, a policy, compliance and direct-selling consultancy that’s an associate member of the Indian Direct Selling Association (IDSA).

Among the names on its scam alert list are entities such as Mission Green India, Jivan Daan, Dhan Vriddhi and Capcha Pay. Over 4,000 such schemes are said to be on currently, according to Strategy India. Tracking down the entities listed was difficult as they don’t appear to have functional websites or contact addresses where they can be reached.