The Bermuda Monetary Authority (BMA) issued a public warning about a social media posting that it says appears to be a fraudulent Royal Gazette report promoting an online investment trading platform called NetherexPro. The BMA said the posting links to a fraudulent website that includes what it claims is an ‘Account Statement’ issued by the Authority and bearing the BMA’s logo. It stressed that it does not provide retail banking services and that the document is fabricated. The Authority also stated that NetherexPro is not licensed or registered by the BMA to conduct any regulated activity in Bermuda, and warned that dealing with unregulated entities carries increased risks, especially where introductions are made through fraudulent statements.
Bermuda Monetary Authority 2025-04-17
Bermuda Monetary Authority warns of fraudulent Royal Gazette social media post promoting unlicensed NetherexPro platform
The Bermuda Monetary Authority (BMA) issued a public warning regarding a fraudulent social media post promoting the online investment platform NetherexPro. The post links to a fake website displaying a fabricated 'Account Statement' with the BMA's logo. The BMA clarified that NetherexPro is not licensed or registered to conduct regulated activities in Bermuda, highlighting the risks of engaging with unregulated entities.