Regulatory Alerts2026-02-10
Added · Updated
Joint Warning by FMA and National Reserve Bank of Tonga on Ponzi-Style Scam
The Financial Markets Authority and the National Reserve Bank of Tonga have issued a joint warning regarding a Ponzi-style investment scam targeting communities in Tonga and New Zealand. The fraud, associated with entities such as BG Wealth and TXEX, utilizes multi-level marketing tactics and fake cryptocurrency apps to lure victims into losing their funds. Regulators advise the public to avoid downloading the malicious application, investing money, or sharing the scheme within their networks.