The Bermuda Monetary Authority issued a public warning about false and misleading posts circulating on social-media platforms, including WhatsApp, that are fraudulently using the authority’s name.

According to the BMA, the posts originate from individuals claiming to represent “BMA Capital” and make inaccurate statements that falsely link the BMA with several unrelated entities, including BMA Capital, Bermuda Finance, Pakistan BMA and BMA International Platform.

“These posts wrongly suggest that the BMA is not only Bermuda’s financial regulator but also the headquarters of a multinational financial conglomerate,” the authority said in a notice issued on Friday.

The BMA emphasised that it has no affiliation with any of the entities named in the messages. It warned the public that such misinformation poses a risk to investors, especially if they are introduced to financial opportunities through fraudulent claims.

“Conducting business with unregulated entities carries increased risk for potential investors,” the authority stated. “Anyone who conducts business with such entities does so at their own risk.”

The BMA reminded the public to exercise caution and verify the legitimacy of any financial services provider before engaging in business.