The Bermuda Monetary Authority (BMA) issued a public warning after becoming aware of a social media posting, including on WhatsApp, in which someone claiming to be “BMA Capital” makes false claims about the regulator. The BMA said the fraudulent post wrongly conflates the Authority with “BMA Capital”, “Bermuda Finance”, “Pakistan BMA”, and “BMA International Platform”, and falsely claims that the regulator is also the headquarters of a multinational financial conglomerate. It cautioned that conducting business with unregulated entities carries increased risk for potential investors, particularly where introductions are made through fraudulent statements, and said anyone doing business with such entities does so at their own risk.
Bermuda Monetary Authority 2025-05-19
Bermuda Monetary Authority warns of fraudulent social media posts falsely linked to BMA Capital
The Bermuda Monetary Authority (BMA) issued a public warning regarding a fraudulent social media post falsely associating the BMA with entities like "BMA Capital" and "Bermuda Finance." The BMA clarified it is not linked to these entities and cautioned against the risks of engaging with unregulated firms, especially those introduced through misleading claims.