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LWS Trading (RK3 Pacific Tonga Ltd) Shut Down by Regulator Following Customer Complaints

By Kaniva Staff | 13/05/2024

The Tongan regulator has taken decisive action against LWS Trading (RK3 Pacific Tonga Ltd) after receiving multiple customer complaints. The company, which had been operating in Tonga, faced allegations of fraudulent practices and poor customer service.

Regulator's Investigation

The regulator conducted a thorough investigation into LWS Trading's business practices. Customers reported issues such as delayed transactions, unauthorized charges, and unresponsive customer support.

Immediate Shutdown

Based on the evidence gathered during the investigation, the regulator ordered the immediate shutdown of LWS Trading. The company's assets have been frozen, and its operations ceased.

Impact on Customers

Customers who were affected by LWS Trading's practices are urged to contact the regulator to file complaints and seek restitution. The regulator is committed to ensuring consumer protection and holding financial institutions accountable.

Looking Ahead

The closure of LWS Trading serves as a warning to other financial entities operating in Tonga. The regulator remains vigilant in safeguarding consumers' interests and maintaining transparency in the financial sector.

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