Women could find themselves the targets of a clever scam which promises to make them rich for doing virtually nothing.

The pyramid scheme Women Empowering Women, or WEW, which first appeared on the Isle of Wight early this year, is similar to discredited pyramid selling but sidesteps the law by dressing up the handing over of thousands of pounds as a gift to other members.

Literature promoting WEW promises those taking part £24,000 in return for an 'investment' of £3,000, as long as they can recruit eight more members.

The scheme has been condemned by Ealing Trading Standards.

Helen Wilkie, head of Ealing Trading Standards, said: "People need to be cautious about any scheme where the emphasis is on recruiting other people rather than selling products and services. The returns promised are more often than not unreal."

An investigation has been launched into WEW by the Department of Trade and Industry.

Technically, WEW is a 'gifting scheme' and people handing over cash are usually asked to sign a declaration that they are making a gift, although it is doubtful if such documents would have any real legal force.

Anyone who did make money out of WEW would be committing an offence if they did not declare it to Inland Revenue.

Those who joined the scheme but feel the risks were not fully explained could be victims of fraud and should go to the police.