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China Strikes against Pyramid Schemes
The General Office of the State Council (GOSC) urged governments at all levels to take effective measures to crack down on pyramid schemes and other illicit activities.
The requirement was raised in a document transmitted Friday by the GOSC. Pyramid schemes have reappeared in various parts of China recently, causing a great financial loss to many people who were involved in them and disrupting the country's economic and social order. Some pyramid scheme networks have developed into underworld gangs, according to a GOSC document.
The document called on the industrial and commercial administration departments to outlaw pyramid schemes or disguised pyramid scheme networks. The banks should render an active coordination.
With the approval from industrial and commercial administration departments at or above the county level, the lower level departments should notify relevant banks to temporarily suspend the settlement operation of the networks which engage in pyramid schemes, it said.
The public security departments throughout the country should enhance the management of the transient population and on houses for rent.
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