Mizoram Police issues advisory on Prevention of Money Circulation Scam

Aizawl  24 Feb 22 (ZRN): Mizoram Police Media Cell, Police Headquarters has issued the following advisory on Prevention of Money Circulation Scams informing the public to be cautious on the matter.

Money Circulation Scam MizoramOf late, it has been learnt that some people in Mizoram are engaging in a money circulation scheme called 'Pearlvine International'. The activity undertaken by Pearlvine International is under investigation/enquiry by the Economic Offences Wing of CID Crime under Mizoram Police as of now. The general public is cautioned about this money circulation scheme as under:

  1. In this Pearlvine International scheme, members' recruitment is mainly based on pyramid structure. It is an "Auto-generated online money circulation scheme", wherein the already enrolled members get shares/benefits from the new members' activation fee / log-in fee, etc. The application used for conducting online transactions (digital wallet / virtual currency) is a platform, not easily understood by common people.

  2. Such a scheme that induces enrolment of new members by offering benefits or commission is prohibited under "The Prize Chits and Money Circulation Schemes (Banning) Act, 1978" and "Money Circulation Scheme (Banning) Mizoram Rules 2013".

  3. Though this kind of financial activity appears to be highly beneficial at the initial stage, they are not viable and unreliable in the long run. Promoters of such schemes are even liable for suitable legal action, as per the merits and facts of the case.

Since falling prey to such schemes can result in financial losses, members of the public are cautioned not to get involved in these schemes and to refrain from responding to such offers in any manner.
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