Notice - Public Warning - Fraudulent Demand for Payment (2026-07-22)

Summary

This is a public warning notice from the Bermuda Monetary Authority alerting regulated entities and the public to a fraudulent email impersonating the BMA. The email demanded a US $50,000 administrative fine be paid in USDC cryptocurrency to a digital wallet, purportedly for regulatory breaches.

• Genuine payment details: Official payment information for the Authority is published in its Annual Fees document on the BMA website; any instruction to send funds elsewhere should be treated as fraudulent.
• Email verification: Genuine BMA emails will always use the domain @bma.bm; recipients should verify sender addresses before acting on any email content.
• Verification steps: If in doubt, do not open attachments or trust contact details in a suspicious email; instead call a known representative or the BMA main number (441) 295-5278 to verbally confirm.
• Payment queries: Queries about payments to the Authority should be directed to finance-receivables@bma.bm.
• Warning list: The web domain associated with the fraudulent email has been added to the BMA's public warning list of unauthorised entities at www.bma.bm/warning-list.

The notice is informational and does not create new ongoing regulatory obligations, but it urges vigilance against fraudulent payment demands purporting to come from the Authority.

Applies to

regulated entities, the public