The government has passed the Multi-Level Marketing Activities (Regulation) Bill-2013 to put an end to MLM companies using the pyramid scheme to fleece people out of their money.
Numerous people have already become victims of such schemes, and lost vast sums. The companies guilty of swindling these people must be held accountable and the victims should have their money returned to them.
While we are happy to see this piece of regulation being passed, we must reiterate that merely having such regulations is not enough. In fact, any law is worthless if not followed up with strict enforcement.
Up until now, there had been no regulation in place to put a check on such fraudulent activities. Thus, a number of companies had been able to take advantage of the situation, allegedly procuring licences through secondary parties, marketing substandard products, violating packaging rules and charging exorbitant prices for their products. These companies need to be charged with these crimes and punished accordingly.
Likewise, more should be done to prevent such scams in the future. The only way to ensure this happens is for the MLM law to be fully implemented, allowing no room for corruption, and for all guilty companies to be held accountable.
