An incident in which an islander was cold called by someone making claims “consistent with an advance fee fraud” has prompted an urgent scam warning.

What is advance fee fraud?

Advance fee fraud is a type of scam where the victim is promised a benefit that does not actually exist, but for which the scammers request upfront fees.

This is usually money, investment returns or recovery of lost funds.

Urgent warning

The warning issued by the Jersey Financial Services Commission on Friday was made in regard to ‘Prime Defender Group’, which the regulator has stated “displays warning signs of being set up for fraudulent purposes”.

It explained that a member of the public had been cold called by the organisation and that “the caller falsely claimed that the individual’s investment had significantly increased in value, and offered to recover these funds, for a fee.

“This activity is consistent with an advance fee fraud.”

Do not act immediately to unexpected calls, messages and emails, especially if you are being asked to act quickly, or disclose personal or sensitive information

JFSC warning

The JFSC warning went on to note several signs of advance fee fraud, including unexpected contact – such as a cold call, email or text – from someone claiming to be from an investment firm, recovery service or bank, as well as claims that funds are waiting to be released or were lost and can be recovered.

Pressure to act quickly or urgently can also be a red flag, as well as requests for payment of fees before receiving any benefit – including through unusual payment methods.

Protective measures

Outlining some protective measures, the regulator added: “Do not act immediately to unexpected calls, messages and emails, especially if you are being asked to act quickly, or disclose personal or sensitive information.”

It continued: “Contact a firm directly to verify the request and use official contact details, check regulator registers and search company [or] individual names with ‘scam’ or ‘warning’ within the search term.

“Speak to someone you trust, your bank, or service provider before sending any money to
any individual or firm that has unexpectedly contacted you.”

The regulator reminded islanders that those who think they have been targeted can report their concern to the JFSC’s Enforcement Division and the States of Jersey Police, as well as their bank if they have already made a payment.