Riya Mala 
[Photo: REUTERS]
The Consumer Council of Fiji is warning the public about a rise in illegal virtual asset–related training activities being actively promoted on social media platforms, particularly TikTok.
The Council says these schemes target local residents by promising high returns through so-called educational trading programmes, designed to lure participants into paying fees for online and in-person sessions.
Chief Executive Seema Shandil says investigations have found that a group operating under the name “VitiCrypto” is allegedly offering paid training programmes, charging participants approximately $300 to attend online Zoom sessions.
She adds that further findings indicate 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.
Shandil stresses that the provision, promotion, facilitation, or marketing of virtual asset services is illegal in Fiji. She advises the public to be aware of this and to avoid any schemes that suggest otherwise.
She further notes that the Reserve Bank of Fiji issued a public advisory on 5 September 2025, stating that under the RBF’s Budget Amendment Act 2025, no individual or legal entity is allowed to operate, facilitate, or market virtual asset service provider activities in or from Fiji, or to Fijian residents.
She adds that breaches of this law constitute a criminal offence and carry penalties of up to one million dollars and/or up to 14 years’ imprisonment.
Shandil warns that these schemes are misleading and expose people to serious financial and legal consequences.
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