Central Bank Warns Public Against Max App Media Ltd. Over Illegal Schemes

The Central Bank of Sri Lanka (CBSL) has publicly cautioned residents against Max App Media Ltd. and associated entities for conducting financial schemes without proper authorization from monetary authorities. The warning highlights concerns that the operations fall outside the framework of permitted financial activities in the country.

Central Bank officials have emphasized that investment schemes and financial products offered by the company and its affiliates have not received approval from regulatory authorities. Citizens are advised to refrain from participating in any such schemes or transferring funds to these entities.

The CBSL action forms part of ongoing efforts to protect consumers from unauthorized financial operations. Regulators have previously warned against similar unregistered schemes targeting Sri Lankan investors, particularly those promising high returns or guaranteed income.

Members of the public who have already engaged with Max App Media Ltd. or its affiliates are encouraged to report their concerns to the Central Bank's consumer protection division. The authority continues to monitor unauthorized financial activities and maintain vigilance against schemes that pose potential risks to savers and investors across the country.

Photo: The Central Bank of Sri Lanka building in Colombo Fort, June 2013. Amithasundar via Wikimedia Commons (CC BY-SA 3.0).