Important Warning
The public is warned against investing in 'Quick Returns Ltd' which is not licensed by BoZ.
Entity Information
Entity Name
Quick Returns Ltd
Entity Type
Unlicensed Investment Scheme
Details
The Bank of Zambia wishes to inform the public that an entity operating under the name 'Quick Returns Ltd' is soliciting investments from members of the public with promises of unusually high returns.
Quick Returns Ltd is NOT licensed by the Bank of Zambia to accept deposits, provide investment services, or conduct any form of financial business in Zambia.
The entity has been promising returns of 50% to 100% per month on investments, which is a classic indicator of a Ponzi or pyramid scheme. Such returns are not sustainable and investors will likely lose their money.
Investigation by the Bank of Zambia has revealed that Quick Returns Ltd has been operating through social media platforms and door-to-door agents, targeting vulnerable communities with false promises of quick wealth.
The public is strongly advised to:
Recommended Actions
- Not invest any money with Quick Returns Ltd or any of its agents
- Report any contact or solicitation from this entity to the Bank of Zambia
- Verify the licensing status of any financial institution before engaging in any transactions
- Be wary of investment opportunities that promise unusually high returns
- Report any suspicious financial activities to the Financial Intelligence Centre
Report Suspicious Activity
If you have information about this or any other suspicious financial activity, please report it to the Bank of Zambia.
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