Gov’t working to recover monies invested in Ponzi scheme
“Our main priority is to ensure that if this scheme is unlawful, and from all indications it is unlawful, then our main priority is to ensure that the persons who have put money into this scheme are reimbursed…we also have...
17,000 persons affected by Ponzi scheme
– major probe launched THE Guyana Securities Council (GSC) has written to President, Dr. Irfaan Ali; Vice- President, Dr. Bharrat Jagdeo and Police Commissioner (ag), Nigel Hoppie, informing them of a suspected Ponzi scheme operating in Guyana, according to Attorney...
Businesses warned against ‘no refund-no return’ policy
THE Guyana Competition and Consumer Affairs Commission (CCAC) is mulling the publication of the names of businesses promoting a “no-refund-no-return” policy, which is an offence according to the Consumer Affairs Act. In 2019, the CCAC embarked on a countrywide campaign...
https://www.stabroeknews.com/2020/08/07/news/guyana/consumers-urged-to-be-on-alert-for-fraudulent-get-rich-schemes/
The Competition and Consumer Affairs Commission (CCAC) today advised members of the public to be wary of Pyramid and Ponzi schemes which are disguised as legitimate investments. The CCAC in a statement said that the warning is being issued in...
CCAC & GCAA meet- Consumer Protection a focus of proposed Air Transport Regulation.
Representatives of the CCAC and the Guyana Civil Aviation Authority recently met to discuss the inclusion of a Consumer Protection Regime as part of the Air Transport Regulations.
Consumers Affairs recovers $104M for disgruntled shoppers
The number of complaints to the Competition and Consumer Affairs Commission (CCAC) went up sharply last year with the auto industry dominating. One of the largest numbers of complaints from consumers to the CCAC came from auto industry. https://www.kaieteurnewsonline.com/2020/02/12/consumers-affairs-recovers-104m-for-disgruntled-shoppers/ According...
Consumer Affairs Act stipulates | Consumers entitled to six-month warranty if none given in writing
IF a store does not provide a consumer with a written warranty, the law stipulates the application of an implicit warranty of six months; however, businesses can give warranties of less than six months if an explicitly written warranty is...
CCAC Representatives attend Mergers and Acquisition Workshop sponsored by Federal Trade Commission.
Director, CCAC Mrs. Dawn Cush and Mr. Anil Sukhdeo, Economist attached to the Competition Policy Unit of the CCAC benefited from a three-day training workshop which focused on “Merger Control for Competition Authorities in the Caribbean”. The Workshop was held...
New standards to be implemented for electrical items -Ministry
The Ministry of Public Infrastructure (MPI) yesterday launched an awareness programme for 31 new standards for electrical items coming into the country and February 2020 is seen as the cutoff point for substandard goods. A release from MPI said that...
Guyana Draft Merger Control & Review Bill
Click to download draft bill. https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Aa8f1f5ed-45cc-487d-b7ac-8f9a46fbcdce