KIEV, March 11 – The government has approved a draft law envisaging a ban on pyramid schemes in Ukraine, the Cabinet of Ministers reported.

The decision was taken at a government meeting on Monday.

The Cabinet said that cases of fraud through pyramid schemes had increased in Ukraine in recent years. However, the current legislation does not protect citizens enough from such transactions.

In particular, the law on the protection of consumers' rights cannot be applied in this case, because according to its provisions, citizens who invest their money cannot be considered consumers.