Bermuda Wakes Up to Surge in Identity Theft and Financial Crimes

Subtitle: Police Grapple with Hundreds of Scam Reports This Year

A wave of concern has swept across Bermuda’s financial community as local authorities revealed a staggering number of scam reports in the first eight months of this year.

Concerning Statistics

• Hundreds of residents have fallen victim to identity theft and financial crimes.
• A high-profile case involving a man who lost $35,000 to online imposters has come to light.

Fighting Back: Increased Presence and Education

1. Bermuda Police Services have increased their presence in the financial district.
2. Officers are educating the public on various cybersecurity threats.

Prevalence of Identity Theft

Identity theft has become an increasingly pervasive issue.

• Criminals impersonate bank representatives, tax officials, and friends/family members.
• Scammers take advantage of COVID-19 fears and confusion.

Staying Safe: Advice for Bermudians

1. Remain vigilant against suspicious emails, phone calls, and text messages.
2. Safeguard private information.
3. Invest in cybersecurity tools and software.

Cooperation and Information Sharing

1. Collaboration between citizens, the private sector, and the police is underway.
2. Authorities are working with international partners to enhance information sharing and intelligence gathering.
3. Preventing illicit proceeds of cybercrime from finding refuge on the island.

A Secure Future for Bermuda

Efforts to reduce the prevalence of scams and fraud schemes aim to:

• Maintain Bermuda’s reputation as a secure destination for businesses and tourists.
• Protect the island’s financial future.