Joint Warning on Ponzi-Style Investment Scams Targeting Tongan and New Zealand Communities

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Category: Press Release

Joint Warning on Investment Scams Targeting Communities in Tonga and New Zealand.

ENQUIRIES

National Reserve Bank of Tonga Fasi mo e Afi Nuku'alofa

(676) 24057

(676) 24201

nrbt@reservebank.to

11th February 2026

Joint Warning on Investment Scams Targeting Communities in Tonga and New Zealand.

The Financial Markets Authority (FMA) of New Zealand and the National Reserve Bank of Tonga issue a joint warning to our communities in Tonga and New Zealand regarding an investment scam (scam) using a "Ponzi-style" group investment model, which is harming our people.

This investment scam uses the names BG Wealth or DSJ EX, which is part of a larger scam operation known as TXEX, using various aliases to increase the number of people involved. This warning currently extends to 813 websites and 30 companies associated with this scam method, which are being blocked.

Clare Bolingford, Head of Licensing and Conduct at the FMA, stated: "There is a significant risk of people losing money to these investment scams, and the Tongan communities in New Zealand, Australia, and America are particularly vulnerable."

"We are working together with the National Reserve Bank of Tonga to increase awareness and understanding among Tongan people of the dangers of these investment scams and to warn people not to participate or accept these schemes.

It is also important not to keep this within your communities."

The scam begins by inviting people to join investment groups on social media, including WhatsApp, Viber, and Bon Chat. These groups are often led by someone posing as a Professor and their assistant, promising returns of 100% interest and encouraging people to recruit friends, family, and colleagues to join the scam program.

Upon joining these groups, members are instructed to open a cryptocurrency exchange account to transfer funds from their bank accounts to "scam accounts" that are not legitimate. These accounts are commonly used to defraud and cause financial loss to account holders.

The scam typically starts by quickly yielding high returns on investment. Over time, people do not realize they are being scammed because the initial quick returns seem genuine, leading them to trust and encourage more people to join the groups.

It becomes clear that the program is a scam when a member requests to withdraw their funds, and they are told they must pay additional fees to release their money. Even after paying these additional fees, no money is returned. Like a Ponzi scheme, as long as it is easy to recruit new members, the small group continues to operate, locking members' accounts and disappearing with the funds.

This is a warning from the Governor of the National Reserve Bank of Tonga, Tatafu Moeaki: "This collaborative work emphasizes the need to warn our people to avoid being harmed by these investment scams. If you know a family member or colleague in Tonga or New Zealand, please share this warning with them immediately. The bank hopes we can assist by quickly disseminating this warning. These scams promise quick and easy returns, but this is not the case, and it is much more dangerous as all invested money is lost."

The public is urged to be more careful when making investment decisions and to seek professional advice. It is crucial to be extremely cautious if any company advertises new investment opportunities on social media. Please report any suspicious financial activities to the FMA or the National Reserve Bank of Tonga as soon as possible.

Read the full warning FMA Warning.

END

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How the Scam Works.

• The scammer sets up groups on social media platforms (chat apps) such as WhatsApp, Viber, or Bon Chat. These groups may appear legitimate but are filled with automated programs. • People can join these groups in various ways. They may receive a scam call from someone claiming to be from a financial institution, receive an invitation to join a group, or be invited by someone they know. The group is led by someone they call a "mentor," "teacher," "professor," "assistant," or "cryptocurrency expert." • The scammer promises a 100% return and provides comparative indicators that change daily, twice a day. • Members are encouraged to invite new people (often friends or family) and are given incentives for everyone they recruit. • Members are instructed to open an account on a cryptocurrency exchange and transfer funds from their bank accounts. They are then told to transfer this cryptocurrency to a "comparative account." • The scammer introduces the member to a highly touted investment program. These groups will later reveal their lack of licenses. • A member may make some investments, believing they are genuine and encouraging them to invest more money. • When a member requests to withdraw their funds, they are told they must pay additional fees to release their money. Even if these additional fees are paid, no money is returned. • As long as it is easy to recruit new members, the small group continues to operate, locking members' accounts and disappearing with the funds.

What steps should you take if you have been scammed:

Stop contacting the scammers. Do not share any further information or make any more payments to the scammer. Report the groups and block the scammers on all digital platforms.

If you have downloaded software or instructions from a scammer/group, contact a computer software owner to scan your device for malicious software. If you entered your bank account or other payment details while using this software, notify your financial institutions.

If you have shared other personal information or downloaded software at the request of scammers, contact IDCare for assistance in setting up a plan to protect your personal information.

If you are receiving inappropriate emails and phone calls (spam), report this to the New Zealand Department of Internal Affairs here.

Share what happened with trusted family or friends. They can help you understand the situation, assist in dealing with the scammer, and move forward.

In New Zealand, contact Victim Support at 0800 842 846 or visit their website. They can provide free assistance.

In Tonga, please contact 7401660, or email [This email address is being protected from spambots. You need JavaScript enabled to view it.](This email address is being protected from spambots. You need JavaScript enabled to view it.) to the Cybercrime Unit of the Tonga Police or visit their office at the Longolongo Police Headquarters.

Report the scam to the companies regulating financial services: FMA in New Zealand, ASIC in Australia, and the National Reserve Bank of Tonga.

For more information,

National Reserve Bank of Tonga Telephone (676) 24 057: Fax (676) 24 201 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.reservebank.to

The National Reserve Bank of Tonga (Reserve Bank) was established on 1 July 1989 as the central bank of Tonga.

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