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What is UCIS Chains

Chapter 16
Handbook of Research on Theory and Practice of Financial Crimes
Chain of investors fabricated with the help of Network Marketing, Word of Mouth Marketing, and Pyramid schemes. These tactics when executed through agents leads to the widening of the UCIS investor base.
Published in Chapter:
Frauds in Unorganized Investment Schemes: The Case of India
Narendra S. Bohra (Graphic Era University, India) and Mahak Sethi (Graphic Era University, India)
Copyright: © 2021 |Pages: 20
DOI: 10.4018/978-1-7998-5567-5.ch016
Abstract
Innumerable unorganized collective investment schemes' fraud cases have surfaced over time in India. However, there exists minimal descriptive literary text divulging these scams and frauds, which have drowned away the hard-earned money of millions of people. This chapter has been contributory in identifying the working models, administration, and organization of unorganized collective investment schemes (UCIS), where UCIS frauds remain the keystone of groundwork concerning the cases that have transpired over the last decade in India. The chapter aims to interpret the UCIS working models concerning UCIS fraud cases in India by exploring the various models of frauds adopted by UCIS organizers.
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