The Malta Financial Services Authority on Wednesday issued a warning about scam emails from Andrew Yaku, who is claiming to work in the financial services industry outside of Malta.

In his emails, Yaku states he represents a high profile client “who has some funds he wants to invest outside his home country. There is need to move the funds out from the present location through bank using an individual who can invest it in a lucrative business venture”.

The MFSA cautioned the public against replying to such emails and to refrain from providing personal details as information available to the MFSA suggested that these were likely to be a scheme of a dubious nature with a high risk of loss of money. 

The public should refrain from undertaking any business or transactions with the above-mentioned individual, it said.

The MFSA advised investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should make sure that the entity with whom the investment or transaction was being made was authorised to provide such services by the MFSA or another financial service regulatory authority as applicable.

For more information on scam emails please refer to the Scam Detection Guidelines issued by the MFSA here.

If you are a victim of any type of financial scam or think you might be dealing with an unauthorised entity, stop all transactions with the company and contact the authority here as soon as suspicion arises.