FRAUDULENT LETTERS - GUARDIAN LAW FIRM (2025-11-28)

Summary

This is a public warning notice from the Bermuda Monetary Authority alerting the public to fraudulent letters circulated by the Guardian Law Firm that falsely appear to be issued by the BMA. The letters instruct recipients to deposit funds into a crypto wallet to prevent losses, and the BMA confirms it has no involvement in such activities.

• Fraud detail: Letters were signed by a fictitious 'Craig Swain' whereas the actual CEO is Craig Swan, spelled without an I.
• Action taken: The Authority identified irregularities on the Guardian Law Firm website and had it suspended by the web host on 21 November 2025.
• Public advisory: The BMA warns that dealing with unknown entities, especially those making false representations, carries increased risk.
• Ongoing resource: The Authority maintains a public warning list of fraudulent entities and communications at www.bma.bm/warning-list.

This notice is informational only and does not impose any compliance obligations on regulated entities; it serves to alert the public and industry to this specific fraud scheme.