The Bermuda Monetary Authority (BMA) issued a public warning that fraudulent letters purporting to have been issued by the Authority are being presented to individuals by Guardian Law Firm and appear to have been sent to the “Guardian Law Team”. The letters direct recipients to deposit funds into a crypto wallet to prevent losses. The BMA said it would not engage in the activities described and highlighted that the letters were signed by “Craig Swain”, while the Authority’s Chief Executive Officer is Craig Swan. It also identified irregularities on the Guardian Law Firm website, raised them with the web hosting service, and the website was suspended on 21 November 2025. The Authority reiterated the increased risks of dealing with unknown entities that make false representations and referred the public to its warning list of fraudulent entities and communications.
Bermuda Monetary Authority 2025-11-28
Bermuda Monetary Authority warns of fraudulent letters linked to Guardian Law Firm seeking crypto wallet deposits
The Bermuda Monetary Authority (BMA) issued a public warning about fraudulent letters falsely attributed to the Authority, urging recipients to deposit funds into a crypto wallet. The letters, signed by "Craig Swain," were linked to Guardian Law Firm, whose website has been suspended due to irregularities. The BMA emphasized the risks of engaging with unknown entities and directed the public to its warning list of fraudulent entities.