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There is a current cryptocurrency scam in Fiji - FIU

There is a current cryptocurrency scam in Fiji - FIU

By Naveel Krishant
30/09/2022
[Photo: The Guardian]

People are being advised to be vigilant when receiving offers for investments, loans and employment on any online or social media platform as the Fiji Financial Intelligence Unit says there is a current cryptocurrency scam in Fiji.

The Unit says these scammers have circulated advertisements on various Viber and other social media groups using the official logo of a Government agency and staff photo.

They state that these advertisements are fake.

It further says the fake advertisements state that individuals in Fiji can purchase bitcoin, foreign exchange and binary trading using their mobile money wallets or bank transfers.

The Unit adds the advertisement provides two phone numbers for further enquiries, a local number and a foreign number.

They say people wishing to engage in offshore investments, including, the trading of cryptocurrency or other virtual assets, must seek prior approval from the Reserve Bank of Fiji.

It adds however, the offshore investment facility is currently suspended. Thus, you would be contravening the Exchange Control Act if you engage in any unauthorised offshore investment.

They say people are advised that only Fijian currency issued by the Reserve Bank of Fiji is legal tender in Fiji and there are currently no authorised virtual assets service providers in Fiji.

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