Bermuda Monetary Authority warns of bogus 'Michael Smith' caller seeking bank details
The BMA warned on 30 October 2026, via The Royal Gazette, of bogus callers claiming to act for it and seeking bank details, one using the name “Michael Smith”. The name is one the caller uses; no real person is implicated.
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Source: royalgazette.com · published
What happened
The Royal Gazette reported on 30 October 2026 that the Bermuda Monetary Authority (BMA) has warned the public about a person falsely claiming to act on behalf of Bermuda's financial-services regulator who has reportedly called people and sought their bank account details. A BMA spokeswoman said the bogus caller had used the name “Michael Smith” in what she described as a “telephone phishing attempt”. “Michael Smith” is a name the caller uses; no real person of that name is implicated, and the BMA is not behind the calls. The spokeswoman added: “These calls are not legitimate communications from the BMA.”
How the scam works
According to the BMA, the caller has tried to obtain individuals' banking details and sometimes tells them their bank accounts will be frozen. The threat of a frozen account is a pressure tactic: it makes people hand over information quickly to avoid the supposed consequence. The article does not say how the numbers were obtained or what the callers did with details. A real regulator does not ask for account credentials over the phone, and the BMA says it will never request personal banking details from any person by telephone. It describes this as consistent with its previous public warning about telephone phishing attempts.
The BMA's advice is that members of the public should not provide bank account details, passwords, security information or other personal financial information to anyone making such a request while claiming to represent the BMA. If there is doubt about whether a communication really comes from the BMA, the recipient should verify it independently by contacting the Authority on 295-5278. Anyone who receives a request for banking information purportedly on behalf of the BMA is advised to contact their bank directly and to consider reporting the matter to the Bermuda Police Service.
Source
The Royal Gazette (Bermuda), “BMA warns public over bogus calls seeking bank details”, 30 October 2026.
Red flags
- A call from someone claiming to represent the Bermuda Monetary Authority, giving the name “Michael Smith”.
- A request for bank account details, passwords or security information.
- A warning that your bank account will be frozen.
- A regulator contacting you by telephone to ask for personal banking information, which the BMA says it never does.
- Pressure to answer immediately and no way to check the caller independently.
If you were targeted
- 1Do not give bank details, passwords or security information to anyone who calls claiming to be from the BMA.
- 2Hang up and verify through the BMA on 295-5278, using a number you looked up yourself.
- 3Contact your bank directly if you gave out any details or are worried about your account.
- 4Consider reporting the call to the Bermuda Police Service.
- 5Warn family and colleagues that the BMA says it never asks for banking details by phone.