BUSINESSES in Jersey are being warned of an “alarming increase” in banking scams and attempts to steal confidential data – after firms lost nearly £1 million to fraudsters in a week.
A statement issued by Jersey’s Chamber of Commerce has urged companies to be “vigilant and proactive”, warning that cybercriminals are “employing sophisticated tactics” to deceive them into divulging sensitive information or making unauthorised transactions.
It noted that the scams often appear as legitimate communications from trusted financial institutions or known business contacts.
The warning comes shortly after the police said they had been made aware of another scam targeting local businesses, revealing that “just under £1 million” had been lost to the illegal scheme in the last week.
Outlining the scam, the force explained that the caller claims there is a problem with the company’s bank account, and asks a member of staff to log in to their online banking.
The fraudster tells the staff member that they are on the wrong screen, instructing them to open a new tab and enter a different website address.
However, the web address is fake – and enables the scammer to gain control of the company’s bank account and transfer funds out of it.
The Chamber of Commerce said that it “wishes to alert all businesses in Jersey to an alarming increase in banking scams and phishing attempts”.
It added: “These fraudulent activities pose significant risks to the security and financial stability of our business community.”
It cited fraudulent “phishing” emails – requesting personal or financial information – as well as phone scams and invoice fraud as some of the more common techniques being used by criminals.
Chamber of Commerce chief executive Murray Norton described the scams as a “very real challenge” for the Island’s business community.
He continued: “In a busy working environment, it is so easy to think the call is genuine.
“By remaining vigilant and proactive, we can collectively mitigate the risks posed by these fraudulent activities.”
He added: “We are very saddened and concerned for those who have already been scammed out of large sums of money.”
