There is no specific law in the Philippines that focuses on pseudo-investme nts. The provisions under the Consumer Act of the Philippines have proven to be inadequate in educating the consumers and the business sectors about the impact of such schemes, more so in curtailing the operations of persons engaged in these fraudulent systems. Even the provisions in the Revised Penal code on "swindling" and "other deceits" do not directly dispence with pyramid schemes. Hence, this bill seeks to fill the gaps in the law. It aims to resolce the growing local and international problem of pyramid schemes by classifying it as an emerging form if transnational fraud and economic crime.