MFSA Warning – Andrew Yaku – Scam Emails

The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of emails,which appear to be scam emails, targeting persons in Malta. An individual, going by the name ofMr Andrew Yaku and claiming to work in the financial services industry outside of Malta, iscontacting prospective clients via email stating to represent a high profile client “who has somefunds he wants to invest outside his home country. There is need to move the funds out from thepresent location through bank using an individual who can invest it in a lucrative businessventure.”The MFSA wishes to caution the public against replying to such emails and to refrain fromproviding personal details as information available to the MFSA suggests that these emails arelikely to be a scheme of dubious nature with a high risk of loss of money. Furthermore, the publicshould therefore refrain from undertaking any business or transactions with the above-mentionedindividual.The MFSA strongly advises investors and consumers of financial services that prior to making anyinvestment or entering into any financial services transaction they should make sure that theentity with whom the investment or transaction is being made is authorised to provide suchservices by the MFSA or another financial services regulatory authority as applicable.For more information on scam emails please refer to the Scam Detection Guidelines issued by theMFSA athttps://www.mfsa.mt/consumers/scams-warnings/typical-scams/. If you are a victim ofany type of financial scam or think you might be dealing with an unauthorised entity, first of allstop all transactions with the company and contact the Authority athttps://www.mfsa.mt/about-us/contact/as soon as a suspicion arises