It rejected claims that it said were being made in pyramid scheme 'classes' that they are approved by the central bank and said those making the claims would be brought to justice.

The Central Bank said it was investigating new complaints of classes being conducted in certain parts of the country to promote or introduce pyramid and pyramid type schemes and trying to identify those responsible.

"The public are once again cautioned that they must not, in any way, participate in such schemes since these are prohibited," the statement said.

"Persons who participate in such prohibited schemes would commit an offence punishable under the Banking Act. In addition, persons participating in such schemes would lose their hard-earned money."

It asked the public to inform the Central Bank if they come across any suspicious schemes and indicate the names and numbers of the bank accounts into which they have made any payments in relation to such schemes.

The Central Bank last year introduced new laws to ban pyramid schemes after a controversial 'multi-level marketing' scheme by Goldquest spread around the island.

Several local operatives for Goldquest were subsequently charged with violating foreign exchange laws.