People in Fiji are being warned about a surge in illegal
virtual asset–related training activities being actively
promoted through social media platforms, particularly
TikTok. These schemes target local residents with promises
of high returns and “educational” trading programmes,
designed to entice participants into paying fees for online
and in-person sessions.
Based on its investigation,
the Council has found that a group operating under the name
“VitiCrypto” is allegedly offering paid training
programs. Participants are charged approximately $300 to
attend online sessions via Zoom, as well as in-person
meetings.
Further findings indicate that these
programmes encourage participants to engage in
cryptocurrency transactions, misleadingly claiming that
while banks cannot process such transactions, money exchange
platforms can be used instead.
This is misinformation.
The Council wishes to make it clear that the provision,
promotion, facilitation, or marketing of virtual asset
services is illegal in Fiji. The public is advised to be
aware of this and to avoid any schemes that suggest
otherwise.
The Reserve Bank of Fiji (RBF) on 5
September 2025 issued a public advisory stating that under
the RBF’s Budget Amendment Act 2025, no natural or legal
person may operate, facilitate, or market virtual asset
service provider (VASP) activities in or from Fiji, or to
Fijian residents. Breaches of this law constitute a criminal
offence and carry penalties of up to FJD $1 million and/or
14 years’ imprisonment.
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This prohibition was further
reaffirmed by the National Anti-Money Laundering Council of
Fiji in its press release dated 10 September 2025, titled
“National Anti-Money Laundering Council of Fiji
Reaffirms Prohibition on Virtual Asset Service
Providers”, which highlighted the serious financial
crime, money laundering, and consumer protection risks posed
by virtual asset service providers.
“These schemes
are misleading and expose people to serious financial and
legal consequences,” said Council Chief Executive Officer,
Ms Seema Shandil. “Public must be aware that paying fees
to participate in virtual asset training or trading
activities in Fiji is not only unsafe, but illegal. Any
person or entity promoting such activities is encouraging
conduct that breaches the law.”
“These are traps,
not lessons,” Ms. Shandil warn. “Paying for this
‘training’ is both dangerous and illegal. Those
promoting it are leading you to break the law. No form of
virtual asset trading or ‘training’ is legal in Fiji.
Disregard labels like ‘education’ or ‘community’
this is exploitation.”
DO NOT PARTICIPATE. DO NOT
PAY.
Consumers are urged to report suspicious
activities to the National Consumer Helpline 155 or via the
Council’s official
platforms.
