The Jersey Financial Services Commission say they are currently investigating several reports of potential cyber-attacks launched against Island companies using a form of malicious software that locks computers until a ransom fee of between £300 and £5,000 is paid.
Criminals warn that if the ransom is not paid they will launch a cyber attack against the business and steal personal data.
The commission say the criminals, who are believed to operating under the alias RepKiller, could target individual Islanders too.
