Notice - Public Warning - Guardian Law Firm (2025-11-28)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority alerting the public to fraudulent letters circulated under the name Guardian Law Firm that falsely appear to have been issued by the BMA. The letters urge recipients to deposit funds into a crypto wallet to prevent losses, and the BMA confirms it has no connection to these communications.

• Fraud pattern: Fraudulent letters were presented to individuals by Guardian Law Firm, purportedly from the BMA, instructing recipients to deposit funds into a crypto wallet to avoid losses.
• False signatory: The letters are signed by a 'Craig Swain' while the Authority's actual CEO is Craig Swan, a discrepancy cited as evidence of fraud.
• Website action: The Authority identified irregularities on the Guardian Law Firm website and alerted the web host; the website was suspended on 21 November 2025.
• Public guidance: The Authority warns that dealing with unknown entities making false representations carries increased risk and directs the public to its warning list at www.bma.bm/warning-list.

The notice is informational and does not impose any new regulatory requirements on licensees; it serves to warn the public and industry about this specific fraud scheme.