National Reserve Bank of Tonga

Unauthorized Foreign Exchange Services by LWS Trading and RK3 Pacific Tonga Ltd

The National Reserve Bank of Tonga (NRBT) wishes to inform the public that LWS Trading and RK3 Pacific Tonga Ltd., operating from Ma’ufanga, have to date, engaged in unauthorized foreign exchange services, in contravention of the Foreign Exchange Control Act 2018 (FEC Act). Providing money transfer services is classified as foreign exchange services, which are legally restricted to Authorized Persons holding a valid license issued by the Reserve Bank, as
specified in section 13(1) of the FEC Act 2018.

The individuals responsible for the operations at LWS Trading and RK3 Pacific Tonga Ltd have been directed to immediately cease all unauthorized activities and apply for the requisite license from the Reserve Bank. This matter has
also been reported to the Ministry of Police to ensure swift compliance and to facilitate any necessary legal actions.

For Customers Affected by LWS Trading Operations and RK3 Pacific Tonga Ltd

Customers who have been affected by the activities of LWS Trading and RK3 Pacific Tonga Ltd are encouraged to contact the Non-Banks Unit through telephone 24 057 or mobile 8701460. NRBT is committed to assisting affected
customers in addressing their grievances and providing necessary support during this period. Please reach out to us for assistance and further information.

The Reserve Bank again reminds the members of the public to refrain from transacting with any unauthorized foreign exchange business.

Enquiries

National Reserve Bank of Tonga
Fasi mo e Afi
NUKU'ALOFA

Telephone: (676) 24057
Fax: (676) 24201
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Resources

Press Release in English 133 KB - Download a copy of the full press release.

Press Release in Tongan  123 KB - Download a copy of the full press release.