India Business News: India has seen a surge in multi-level-marketing (MLM) pyramid schemes, with over 400 new schemes emerging in 2023, the highest in the past five years.
India saw the highest number of multi-level-marketing pyramid schemes launched in five years in 2023, according to Strategy India, a policy, compliance and direct-selling consultancy. These schemes, based on money-circulation networks, pay existing investors with funds collected from new ones instead of profits. Many remain unchecked by taking advantage of loopholes in existing consumer protection laws.
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