Tonga reserve bank warns of illegal money exchange operators

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The Tonga National Reserve Bank said some retail shops in Tonga have provided foreign exchange services to their customers without holding the required license.

It reminded that people conducting these illegal activities could be imprisoned or fined.

It urged those who were interested in this business to apply for a license.

The Bank said: “The Reserve Bank is responsible for the licensing, regulation and supervision of authorized dealers providing foreign exchange services in and from Tonga.

“Authorised Dealer”, as defined by the Regulation, means “in relation to any foreign currency, a person appointed by the Reserve Bank by notice in the Gazette to act for the purposes of these Regulations as an authorised dealer in relation to that foreign currency. Such appointment may be subject to such restrictions as are set out in the notice.”

The public is reminded that pursuant to Regulation 11, “A person who commits an offence against these regulations shall be liable on conviction – in the case of an individual to a fine not exceeding $200,000 or imprisonment for a term not exceeding 3 years, if a body corporate, to a fine not exceeding $200,000.”

“The public is hereby notified that by providing foreign exchange services without the required license is an offence and you are to immediately cease and desist such operations and apply to the Reserve Bank for a license. We are urging the public to please report to the Reserve Bank any unauthorized foreign exchange services”.

1 COMMENT

  1. Fakatokanga ki he kakai
    Fakafetongi Pa’anga Muli Ta’efakalao

    Hufanga ‘i he fakatapu kae ‘oatu ‘a e fanongonongo ko eni kiate kinautolu ‘a e ngaahi falekoloa fakatau fakamovetevete ‘i
    Tonga΄ ni mo ha toe taha pe ‘oku ne fakahoko ‘a e fakafetongi pa’anga muli lolotonga ia ‘oku ‘ikai ke ne ma’u ‘a e laiseni ke
    fakahoko ‘a e fakafetongi pa’anga muli mei he Pangike Pule. ‘Oku fakamanatu atu ke mou mea’i, fakatatau ki he Tu’utu’uni
    3 ‘o e Ngaahi Tu’utu’uni (Fakatonutonu) ki he Pule’i ‘o e Fetongi Pa’anga Muli kupu 3, kuo pau ke ma’u ha ngofua pe laiseni
    mei he Pangike Pule ke malava ke te fakahoko ‘a e pisinisi fakafetongi pa’anga muli. Ko e Pangike Pule ‘a e ma’u mafai ki
    hono laiseni mo tokanga’i ‘o e ngaahi kautaha fakafetongi pa’anga muli ‘i Tonga´ni.

    Fakatatau ki he Tu’utu’uni (Fakatonutonu) ki he Pule’i ‘o e Fetongi Pa’anga Muli, ko kinautolu kuo fakamafai‟i ke nau
    fakafetongi pa‟anga muli (authorized dealer) “ko ha taha kuo fokotu‟u „e he Pangike Pule Fakafonua ʻo Tonga ʻaki ha
    fanogongongo ʻi he Kasete ke ne fakahoko ʻo fakatatau ki he ngaahi taumu‟a „o e lao „o hoko ko ha taha fakafehu‟aki
    pa‟anga ʻo fekau‟aki mo e pa‟anga muli koia. „Oku „i ai „a e ngaahi fakangatangata ki he fokotu‟u´ ni „o fakatatau ki he‟ene
    hā i he fanongonongo΄ni.”

    ‘Oku fakamanatu atu heni ki he kakai ‘o e fonua΄ fakatatau ki he Tu’utu’uni 11, “Ko ha taha te ne fakahoko ha hia „i he
    ngaahi tu‟utu‟uni ni kuo pau ke ne mo‟ua „o ka halaia – kapau ko ha taha fakafo‟ituitui ki ha mo‟ua pa‟anga „e „ikai laka hake
    „i he $200,000 pe ngaue popula „o „ikai laka hake „i he ta‟u „e 3; kapau ko ha sino fakakautaha, ki ha mo‟ua pa‟anga „e „ikai
    laka hake „i he $200,000.”

    ‘Oku fakatokanga atu heni ki he kakai ‘o e fonua΄, ko e hia ‘a hono fakahoko ‘o e fakafetongi pa’anga muli ka ‘oku te’eki ai
    ma’u ha laiseni, pea ke ta’ofi leva ‘a e ngaue ta’efakalao ni ‘i he vave taha΄ pea fakahū mai ha’o tohi kole ki he Pangike
    Pule ke ma’u atu ha’o laiseni ke fakahoko ‘a e fakafetongi pa’anga muli. ‘Oku mau kole atu ki he kakai ‘o e fonua΄ ke mou
    kataki ‘o lipooti mai ki he Pangike Pule ha fa’ahinga taha ‘oku ne fakahoko ‘a e fakafetongi pa’anga muli ta’efakalao.

    Ki ha ngaahi faka’eke’eke makehe kataki ‘o fakafetu’utaki ki he:
    Tafa’aki tokanga’i ‘o e ngaahi kautaha fakapa’anga (Financial Institutions Department)
    Pangike Pule Fakafonua ‘o Tonga
    Telefoni: (676) 24-057
    Fax: (676) 24 201
    Meili ‘Elekitolonika: [email protected]
    Peesi ‘Initaneti: http://www.reservebank.to