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Industry update

Staying safe in a world of sophisticated scams

By Kerry Petulla, Executive Director of Enforcement

This blog is part of the Jersey Financial Services Commission’s (JFSC) contribution to World Investor Week, a global campaign led by the International Organization of Securities Commissions (IOSCO) to promote investor education and protection.

As we mark World Investor Week, it is more important than ever to shine a light on the growing threat of fraud and scams. These threats are becoming more sophisticated, particularly those that misuse the names of genuine companies and even trusted regulators like the JFSC.

Fraudsters are increasingly using technology to appear legitimate and avoid raising suspicion. One of the trends we are seeing is the impersonation of legitimate firms, and in some cases, the JFSC itself. These scams are designed to look convincing and are often built around the following tactics:

Common investment scams

Cloned websites

These are fake websites that closely mimic real firms. They may copy the logo, layout and even the contact details of a genuine company. But behind the scenes, it is a scammer trying to steal your money or personal information. Always check the website domain address carefully.

Fake documents with official logos

These can include investment brochures, contracts or certificates that look very official and may include a forged company logo. They are designed to make the scam feel real and professional so that you do not spot anything unusual.

Spoofed emails or phone numbers

Scammers can make it appear as though they are contacting you from a trusted source such as your bank, a financial adviser or even the JFSC. The number or email address might look familiar, but it has been faked to fool you.

False claims of JFSC authorisation or endorsement

You may be told that an investment is “approved by the JFSC” or that we are holding your investment on your behalf. This is not true. The JFSC does not endorse or recommend specific investments, and we will never hold your money.

All of these tactics are designed to build trust quickly and pressure you into acting before you have had time to think or check. Do not feel rushed. Take your time and seek advice from someone you know and trust.

What are the red flags?

  • unsolicited contact about investment opportunities
  • promises of high returns with little or no risk
  • pressure to act urgently
  • requests for personal or financial information
  • being told the opportunity is “JFSC approved”

If something feels odd or your instincts are telling you to be cautious, please pause and take time to verify. A legitimate firm will never rush you or discourage you from seeking independent advice.

What can you do?

If you are uncertain about an investment or feel something isn’t quite right, there are steps you can take to protect yourself:

  • check the JFSC’s public register to confirm whether a firm is authorised to operate in Jersey
  • speak to someone you trust, such as a friend, family member, your local bank or a qualified financial adviser
  • review our public warnings - we regularly publish alerts about known scams and unauthorised firms on our website
  • contact the JFSC directly - our team is here to help and will treat your concerns seriously and confidentially. You can reach us on 01534 822000 or email our enforcement team.

You do not need to be certain that something is a scam before getting in touch. If you have doubts, we encourage you to contact us.

If you suspect you have been targeted

  • stop all communication immediately
  • do not send any money
  • report it to the JFSC via our whistleblowing line
  • inform your bank - they are actively engaged in preventing fraud and scams and can work with us to issue wider alerts if needed

The sooner you act, the better the chance of limiting financial loss and helping to protect others from falling victim.

At the JFSC, we are committed to protecting people from financial harm and maintaining trust in Jersey’s financial system. But we cannot do it alone. Awareness is your best defence.

Let’s use World Investor Week as a reminder to stay vigilant, ask questions and always verify before parting with your hard-earned money.