Dáil Éireann Debate, Wednesday - 24 March 2021
181. Deputy Sean Sherlock asked the Tánaiste and Minister for Enterprise, Trade and Employment if his attention has been drawn to an influx in cases of pyramid schemes in operation; and the steps being taken to combat same. [15217/21]
Amharc ar fhreagraPart 4 of the Consumer Protection Act 2007 makes it an offence to establish, operate, promote, knowingly participate in, or induce or attempt to induce another person to participate in, a pyramid promotional scheme. The Competition and Consumer Protection Commission (CCPC) is responsible for the enforcement of this and other provisions of the Act and is independent in the exercise of its investigative and enforcement functions.
I am aware of recent reports of a pyramid scheme that is being promoted on social media channels. On 4 March 2021, the CCPC issued a warning about this scheme and encouraged consumers to contact them if they had been approached to participate in it. The CCPC have advised me that they are currently investigating this scheme. I would urge anyone invited to invest in this scheme not to do so and to contact the CCPC immediately.
