Fraud reports to the States of Jersey Police have reached a four-year high, with losses expected to exceed £5 million this year.
The Jersey Fraud Prevention Forum (JFPF) is urging islanders to be extra vigilant by raising awareness during International Fraud Awareness Week (16-22 November).
Jersey is not immune from international and local fraud activity and islanders can fall victim to a wide range of scams. Investment and cryptocurrency crimes are increasingly common, alongside others such as romance and ticket fraud.
Investment scams are becoming increasingly sophisticated. Criminals often pose as legitimate financial advisers or create convincing online platforms to lure victims with promises of high returns or “risk-free” investments.
Cryptocurrency scams are also growing rapidly, taking advantage of confusion around digital currencies like Bitcoin to trick people into transferring funds that victims never get back.
Common tactics include fake websites that mimic real firms, social media adverts featuring fabricated celebrity endorsements, and pressure to act quickly with “limited time offers.”
STOP, THINK, PROTECT
Islanders are urged to follow three simple steps to guard against scams:
STOP – pause before sharing details or clicking a link
THINK – could this be fake?
PROTECT – contact your bank if unsure, and report fraud to the States of Jersey Police on 01534 612612
Chris Beechey, JFPF Chair and Chief Inspector at the States of Jersey Police, said:
“Investment scams can devastate lives. If something sounds too good to be true, it probably is. We urge islanders to seek advice before committing funds. Your bank, the Police, JFSC or other members of the Jersey Fraud Prevention Forum can help. Fraud thrives in silence. Let’s talk about it.”
Fraudsters often create a sense of urgency to stop people from thinking clearly. The JFPF urges all slanders to be alert to warning signs such as unrealistic returns, urgent deadlines, claims of approval by the Jersey Financial Services Commission, or requests for crypto payments or private wallet details.
Practical steps to protect yourself and others include speaking to your bank before making any investment, contacting your parish constable for local support, seeking guidance from the Jersey Financial Services Commission (JFSC), and reporting suspicious activity to the States of Jersey Police on 01534 612612.
For local advice and updates, follow the Jersey Fraud Prevention Forum on Facebook and LinkedIn, and join the conversation on social media using the #FraudWeek hashtag.