A warning has been issued after an Islander was targeted with a cold call in which the scammers manipulated caller identification to display a legitimate private banking and wealth management firm’s number.
The Jersey Financial Services Commission has sought to alert the public to scammers impersonating Nedbank Private Wealth Limited.
The JFSC explained that an islander had been subject to a cold call in which the fraudsters “spoofed” a legitimate NPWL telephone number (+44 1624 645000), claiming they were part of the firm’s fraud team.
“We are also aware that the scammers are using the name ‘Michael Stevens’, when contacting Jersey residents,” the warning continued.
Criminals are exploiting digital channels such as online banking, mobile apps, and social media to target customers with highly convincing phishing and impersonation tactics
JFSC warning
Caller ID manipulation is one of several forms of spoofing, which also includes forging email addresses, as well as fake websites mimicking real ones to steal login credentials and sending fraudulent links via text messages that appear from legitimate sources.
“Scams are increasingly prevalent across the banking sector, driven by advances in technology and the growing sophistication of fraudsters,” the JFSC stated.
“Criminals are exploiting digital channels such as online banking, mobile apps, and social media to target customers with highly convincing phishing and impersonation tactics.”
The regulator is urging islanders to be wary of unexpected calls, texts and emails, as well as to contact a firm directly to verify the request is legitimate using official contact details.
It also warned against disclosing any personal or banking information, noting that “banks will never ask you for passwords, security information, or one-time passcodes”.
“Do not act immediately, especially if there is urgency in the contact,” the JFSC stated.
“Remember, if you’re not certain that the call, text, or email is legitimate, immediately hang up, do not respond, or click on any links.”