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| Sunday, 8 May 2005 |
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E-commerce frauds rise by Jayantha Sri Nissanka The Central Bank of Sri Lanka (CBSL) is now in the process of formulating a methodology to capture e-commerce frauds which have increased in the recent past. CBSL warns people not to be duped by the Gold Coin selling racket which has started again in certain districts. CBSL has sent officials to investigate the issue to these districts. "We have received some information that they have again started the business in a small way and still use unofficial channels to transfer funds abroad," a CBSL official said. The Gold Coin racket transferred about Rs.900 million illegally last year. CBSL imposed fines amounting to millions to the agents who used their credit cards to pay for others. "That was the only point we had to tackle the pyramid scam in Sri Lanka. At that time laws were not in the country to handle these issues", he added. When asked about the problem they faced the official said that our Police officers should be educated to understand e-commerce frauds. Though our police officers are good in handling crime, tracing e-commerce frauds are beyond their capacity, the officer said. |
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