Chamber News Article

Jersey Chamber of Commerce

Latest News

Category: Business & Professional Services  Financial  Legal  Local Business News

JFSC Warning After Fraudsters Impersonate Local Investment Business

Dec 14, 2018

The Jersey Financial Services Commission (JFSC) is warning businesses and members of the public to be extra vigilant after fraudsters pretended to be from a Jersey investment business and defrauded one of its clients.   A local independent financial adviser was the target of the ‘impersonation attack’ which involved criminals sending bogus emails to the client, offering fake investment opportunities in a parking spaces scheme. The emails were almost identical to the adviser’s legitimate correspondence, with a similar email address and sign off.  

The firm is aware of one investor who has suffered substantial financial losses and has subsequently contacted its client list to warn others about the scam.  

JFSC Director of Enforcement, Barry Faudemer commented:  

“Fraudsters carry out these attacks in a variety of ways, including hacking individuals' personal devices to identify and exploit business relationships. To make sure Islanders don’t get caught out, they should always check the authenticity of any unexpected emails offering investment opportunities. If they’re in doubt about the legitimacy of the correspondence, they should contact their adviser through the official and recognised channels, particularly if they’re being asked to make a financial transaction.”

Any Islander who thinks they may have been targeted should contact the States of Jersey Police on 612 612 in the first instance and then the Jersey Fraud Prevention Forum by emailing

Any local companies which identify a fraud or attempted fraud should contact their JFSC Supervisor, in addition to notifying the police.

Press Release

More Chamber News

  • Views Sought on Cost of Living Mini-Budget

    A survey asking Islanders for their views on the Government’s proposed cost of living mini-budget has...

  • Mini Budget Q&A

    Following last week’s launch of the Mini-Budget we have seen lots of questions from the public and wanted...

  • Opportunity for Young Islanders to Represent Jersey in Trinidad and Tobago

    The States Assembly is looking for two Islanders aged 18-29 to represent Jersey at the 11th Commonwealth...