14 Mar 2017

Tonga crackdown on unlicensed FOREX dealing

6:31 am on 14 March 2017

Tonga's central bank is to get tough with unlicensed shops providing a foreign exchange service.

The National Reserve Bank of Tonga said anyone who wants to carry on such a business has to approach it for a licence.

It was calling on any unlicensed operator to stop and warns that business or individuals could face fines up to $US87,000 dollars.

Alternatively the operator could be jailed for up to 3 years.