BMA Warns Public Of Fraudulent Letters
“The Bermuda Monetary Authority said they are “aware of fraudulent letters that appear to have been issued in the name of the Authority” and “these letters falsely appear to have been sent to the ‘Guardian Law Team’.”
A spokesperson said, “The Authority understands that individuals have been presented with these letters by Guardian Law Firm. These fraudulent letters state that the recipient should deposit funds into a crypto wallet to prevent losses. A sample of the letters follows this Notice.
“The Authority wishes to advise the public that it would not engage in the activities described in the fraudulent letters. Additionally, these letters have been signed by a ‘Craig Swain’ while the actual CEO of the Authority is Craig Swan [There is no I in Swan].
“The Authority noted several irregularities on the Guardian Law Firm website, which it brought to the attention of the web hosting service. On 21 November 2025, the Guardian Law Firm website was suspended.
“The Authority would like to remind the public that conducting business with unknown entities carries an increased risk, especially when dealing with entities that make false representations in their communications.
“The Authority maintains a warning list of fraudulent entities and communications that purport to have originated from the Authority, which can be found at www.bma.bm/warning-list.”
