| Description |
1 online resource (44 pages) |
| Series |
IMF working paper ; WP/09/95 |
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IMF working paper ; WP/09/95.
|
| Contents |
I. Introduction; II. Background; III. Unregulated Investment Schemes in the Caribbean; A. Jamaica; B. Eastern Caribbean Currency Union and the Turks and Caicos Islands; IV. Addressing Unregulated Investment Schemes: Key Policy Lessons; A. Preconditions; B. Key Regulatory Actions; V. Conclusion; Annex I. Other Recent Investment Schemes; A. United States; B. Colombia; C. Lesotho; D. Albania; References |
| Summary |
In several Caribbean states, unregulated investment schemes grew quickly in recent years by claiming unusually high monthly returns and through a system of referrals by existing members. These are features shared with traditional Ponzi schemes and pyramid schemes. This paper describes the growth of such schemes, their subsequent collapse, and the policy response of regulators, and presents key policy lessons. The analysis and recommendations draw on country experiences in the Caribbean, and in such diverse countries as the United States, Colombia, Lesotho, and Albania |
| Bibliography |
Includes bibliographical references (pages 43-44) |
| Notes |
Print version record |
| Subject |
Ponzi schemes -- Caribbean Area
|
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Fraud -- Caribbean Area
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Swindlers and swindling -- Caribbean Area
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Fraud
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Ponzi schemes
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Swindlers and swindling
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Caribbean Area
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| Form |
Electronic book
|
| Author |
Carvajal, Ana, author.
|
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International Monetary Fund. Western Hemisphere Department.
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International Monetary Fund. Monetary and Capital Markets Department.
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