Tongan, NZ authorities team up to battle high-risk crypto scam
Tongan and New Zealand authorities are teaming up to battle a high-risk scam promising big returns hitting communities in both countries.
BG Wealth/DSJ Exchange is a Ponzi scheme targeting nationalities globally but its rapid spread amongst Tongans is sounding alarm bells.
The National Reserve Bank of Tonga has put out a warning and is partnering up with New Zealand’s Financial Markets Authority (FMA) due to concern it’s spread to Tongans living here.
FMA’s executive director of licensing and conduct supervision Clare Bolingford said working together to share information is important to try and put a lid on the investment scam.
“Given what we’ve seen with this scam in particular we really want to present a joint and united front to the…
