FRAUDULENT SOCIAL MEDIA POSTING - NETHEREXPRO (2025-04-17)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority alerting the public to a fraudulent social media posting linked to an entity called NetherexPro. The posting impersonates a Royal Gazette news article and uses a fabricated document bearing the Authority's logo to lend false credibility to an online investment trading platform.

• Fake news article: A fraudulent social media posting mimics a Royal Gazette report claiming a local journalist was arrested over involvement with NetherexPro.
• Fabricated bank document: The fraudulent website linked from the posting includes a fake 'Account Statement' bearing the Authority's logo; the BMA confirms it does not provide retail banking services and the document is fabricated.
• Unlicensed entity: NetherexPro is not licensed or registered by the BMA to conduct any regulated activity in Bermuda.
• Risk warning: The BMA warns that dealing with unregulated entities, especially where introduced via fraudulent statements, carries increased risk, and that anyone doing so acts at their own risk.

The notice is informational and warns the public rather than imposing compliance duties on regulated entities.

Applies to

members of the public, potential investors