The Police reported that scammers have been using celebrity impersonations to promote fraudulent investments
Islanders have suffered losses of more than £600,000 in the past three months due to online crypto investment scams.
Jersey’s Joint Financial Crime Unit was informed that fraudsters had developed intricate tales of deception, which they were promoting via social media and advertisements.
People were being contacted with strong-arm tactics in an effort to get them to invest in fraudulent schemes.
The investigating officer Faith Shalamon noted that victims come from all walks of life and are often persuaded to invest their life savings without understanding the risks involved.
Ruining Lives
“These criminals make use of celebrity impersonations on social media and online ads to convince people to invest in dubious ventures,” said Ms Shalamon. “They often discourage victims from seeking external advice before investing, and this has caused innumerable heartache and financial ruin.”
The police force warned that scams of this kind are on the rise, and urged people to be vigilant when making investments in cryptocurrency.
Islanders in Jersey are being warned of a surge in cryptocurrency investment scams after £600,000 was lost to fraudsters in just three months. Victims are being targeted by perpetrators using “friendly telephone calls, WhatsApp messages and emails”. They are also providing “authentic documentation” and promising high returns on investments with little to no risk.
The Police have recently dealt with the case of a family who lost £200,000 in life savings to a cryptocurrency investment platform. They were convinced to transfer funds to a wallet, but when the time came to withdraw their money, the scammers demanded fees and charges. The funds were scattered, and unlikely to ever be recovered.
In response to these scams, the Jersey Police are urging residents to be wary of online advertisements promising high returns on investments in crypto assets, and to be suspicious of anyone who contacts them out of the blue about an investment opportunity. They also recommend not rushing into a decision and to seek advice from trusted family, friends or professionals.
The Police reiterated that, “If something sounds too good to be true, it probably is”.