Investor loses “tens of thousands” to fake firm

Monday 17 December 2018

An islander has lost “tens of thousands” of pounds after falling victim to a scam parking space investment scheme by a fraudster that successfully posed as a local investment firm.

The warning came from the Jersey Financial Services Commission (JFSC), who explained that the islander, who has not been named, was conned through what they described as an “impersonation attack”.

The attack involved criminals sending falsified correspondence via email to the investor, which closely resembled emails sent by a firm they had previously used.

The emails, which featured a near-identical email address and sign-off, involved offers for investment opportunities in a parking spaces scheme.

At least one investor in the firm has now suffered a “substantial” loss, which the JFSC told Express was in the “tens of thousands”.

Pictured: The fake scheme involved a parking spaces investment.

They’re now reaching out to islanders to stop them falling for 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.” 

Anyone who thinks they may have been targeted is urged to contact Police on 612612 in the first instance and then the Jersey Fraud Prevention Forum by emailing scams500@police.je.

Any companies that feel they might have been a victim of fraud, meanwhile, are being asked to contact the JFSC.