CRYPTOCURRENCY scams targeting Islanders through fake online news articles are part of a wider criminal enterprise, Jersey’s Cyber Security Centre has warned.
JCSC director Matt Palmer echoed warnings from the government and the States police regarding the fraudulent content, which has included images of politicians alongside false statements – such as “Jersey residents will start receiving income from taxes”.
The latest scams also try to imitate the look of the JEP’s website, while the scammers attempt to trick Islanders with claims that they can make large sums of money through a cryptocurrency service called NovusX.
The JCSC has now confirmed that these fake adverts are part of a “broader campaign of cyber crime”.
Mr Palmer explained: “The same gang has targeted similar scams at other small jurisdictions, including the Isle of Man and Gibraltar, as well as South Africa. Like the Jersey adverts, these use fake testimonials from well-known local figures to make unrealistic claims.
“We can connect the gang behind this campaign to the September campaign that used images of the Bailiff [Sir Timothy Le Cocq] and late journalist Gary Burgess.
“However, it appears that the criminal gang may be using multiple associates to manage the scam.”
Mr Palmer continued: “Cyber crime is a huge and well-resourced industry – with a value of $10 trillion dollars, it is bigger than the economies of Germany or Japan. According to the Jersey Fraud Prevention Forum, Islanders lost £2.5m to scams between April and August this year.
“It’s likely that these types of scams will continue, even if the criminals change platforms or use different public figures.”
Noting the potential harm they could cause, Mr Palmer described the scams as “disheartening”.
“It’s also deeply unpleasant for those who have their image used without their consent. But it does mean that we can inform ourselves, spot the signs of a fraudulent advert, and protect ourselves from fraud.”
