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The Jersey Financial Services Commission (JFSC) has today issued a warning to local financial institutions about a phishing email which is targeting companies’ due diligence processes.

A financial organisation in the UK has already been the target of the attack which takes the form of an email containing a JAR file attachment, believed to be malicious software. 

The email, claiming to be from the Office of Foreign Assets Control, part of the Department of the Treasury, is sent from with a message similar to the following:

“Hello, These four (4) names are included in the ofac list but we have received a report of remittance performed to these people from you. We demand more explanation on why you should remit funds to these individuals. Check the attached file for the full details of the report and transaction details.”

The cyber-attackers rely on bank staff clicking on the attachment in order to install the malicious software.

Barry Faudemer, JFSC Director of Enforcement, has the following advice:

“We are asking local financial institutions to be vigilant and to make staff aware of this phishing email.  As well as ensuring that organisations have up-to-date anti-virus in place, we would always advise staff not to click or open unfamiliar email or web links, and to check the legitimacy of any suspect emails with the company that supposedly sent them.”   

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For further enquiries, please contact:

Emma Martin
Head of Communications
Jersey Financial Services Commission
Tel: + 44 (0) 1534 822166

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