The Consumer Council of Fiji confirms they have engaged with the Anti-Scam Taskforce in relation to a possible scam that continues to be circulated on social media platforms like Facebook and TikTok, disguised as a “business opportunity” using the name 'LiveGood'.
Council CEO, Seema Shandil stresses the financial institutions or mobile units should remain vigilant and conduct enhanced due diligence on payment flows related to potentially fraudulent schemes, particularly those that target vulnerable consumers.
She says that the council has raised concerns about this matter and understands that the Reserve Bank of Fiji is also monitoring the situation.
However, she says they cannot speak on behalf of the RBF or give provide directives to financial service providers.
She says they have issued an official advisory on the LiveGood promotion currently taking place, and they have engaged with the Anti-Scam Taskforce.
Shandil says while the council cannot speak on behalf of other agencies such as the Reserve Bank of Fiji, the Financial Intelligence Unit, or the Fijian Competition and Consumer Commission, they can confirm that a preliminary review of LiveGood has identified characteristics consistent with a pyramid scheme.
The council says they have been advised that an individual, reportedly based in New Zealand, is actively promoting this scheme in Fiji.
It promises high returns through "matrix spillover" and encourages people to pay a $49.95 USD joining fee and a monthly $9.95 USD subscription.
The Consumer Council says it resembles a pyramid scheme, where earnings are based solely on recruiting others.
It promises unrealistic weekly payments of up to $1,000 for simply signing others up.
The council stresses that if it sounds too good to be true – it probably is.
Shandil says based on this, they have strongly advised consumers not to invest in the scheme and to remain cautious, particularly in light of past scams such as the Ebayshop pyramid scheme, which resulted in financial losses for thousands of Fijians when it collapsed.
She says consumers are urged to be extremely cautious with any scheme that requires an upfront payment or subscription fee and promises earnings primarily through the recruitment of others.
Shandil says although the promoters of LiveGood claim it involves health and wellness products, their marketing and outreach place very little focus on the actual products.
She says instead, the emphasis is heavily on monthly membership fees and recruiting new members, both of which are red flags.
Shandil says it is also concerning that the scheme’s promoters say they are based in New Zealand, yet appear to be aggressively targeting Fijians rather than its domestic market (offering the program to their own local population), raises further suspicions.
She urges Fijians to avoid such schemes, verify companies with the Reserve Bank of Fiji or Fiji Financial Intelligence Unit, and report suspicious operations to authorities immediately.
We are awaiting responses from RBF, FCCC and the Ministry of Trade and Commerce.
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