VN lacks tools to net pyramid sharks
Viet Nam lacks the legal wherewithal to deal comprehensively with dubious multilevel marketing companies operating in the country, officials say. While a crackdown on pyramid schemes by the Vietnam Competition Authority has made some headway, authorities are unable to exercise due control over the multilevel marketing sector, they add. The VCA, in collaboration with the Ministry of Public Security, shut down 45 per cent of illegal multilevel marketing companies in the country last year, according to the Ministry of Industry and Trade. The MoIT said the VCA penalised 30 network marketing firms last year after careful investigation, imposing fines of VNĐ8 billion (US$357,941).
