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Gazans fall victim to pyramid schemes

Pyramid schemes are finding their way into the Gaza Strip, as citizens are looking for any way to cope with the deteriorating economic condition amid high unemployment rates.
A Palestinian man receives his salary, Rafah, Gaza Strip, Nov. 9, 2018.

GAZA CITY, Gaza Strip — To escape unemployment and poverty, which have reached record levels in the Gaza Strip, many young men and women have resorted to pyramid schemes in an effort to make money. However, they have become victims of fraud and theft from several bogus online companies.

The Ministry of Economy in the Gaza Strip issued a decision Jan. 25, banning the sale, purchase, trade, marketing or advertising of any product or service through pyramid marketing via any electronic or nonelectronic method. The ministry warned that whoever violates the decision risks legal accountability.

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