Fake bank calls and bogus share payouts are on the rise in Jersey

Jersey's financial regulator says this year is its busiest yet for reports of investment scams and other fraud. Two tricks keep coming up. One promises that your shares have soared in value, but only if you pay fees first. The other is a fake bank call that tries to get your one-time passcode.

What the regulator said

The warning comes from Josh Miere of the Jersey Financial Services Commission (JFSC). He wrote it in a blog on 7 October 2026 as part of World Investor Week. His point is that scams are more convincing than ever and harder to spot.

He notes that many people now recognize the lottery scams of the 1990s, because awareness grew over time. The JFSC wants islanders to build the same awareness of today's scams. Fraudsters rarely ask for money straight away. They first build credibility and create urgency or excitement, and they may pose as trusted organizations.

The two scams

In the first, an unexpected call, email or letter says shares you own, once owned or do not even recognize have jumped in value after a takeover. Before any money is released, you must pay a fee. It might be called a regulatory charge, a legal cost or an anti-money laundering fee. Once you pay, more fees are requested. The promised money never arrives.

In the second, someone pretends to be your bank. The call comes without warning and sounds urgent, perhaps about suspicious activity on your account. The caller then asks for security details such as one-time passcodes, the short codes used to confirm it is really you. Those codes let the fraudster into your online accounts to take your money.

Warning signs

• Unexpected phone calls, emails or text messages
• Requests for security, sensitive or personal information
• Pressure to act immediately
• Being told to click a link or download an attachment
• Offers that seem too good to be true

What to do

The JFSC boils it down to three steps. Stop: pause before responding to unexpected calls, messages or adverts, especially if you are rushed. Check: confirm who you are talking to, using contact details from an official website or your bank card. Protect: never share personal or financial information with someone you do not know, even if they claim to be your bank.

For doubts about an investment, the JFSC suggests checking its register of regulated entities to see if a firm is authorized in Jersey. It adds that fraudsters may impersonate genuine firms. Its website also carries public warnings about known scams. Its Enforcement team can be reached at 01534 822000 or enforcement@jerseyfsc.org, and concerns are treated confidentially. You do not need to be sure it is a scam before getting in touch.