JFSC Jersey Financial Services Commission , 14-18 Castle Street Picture: JON GUEGAN. (39133069)

ISLANDERS are being urged to be on alert after a fake firm, iCap Law LLP, cold-called a member of the public offering to buy their shares in a genuine investment for an inflated price, but only if they paid a “deposit” first.

The JFSC says the entity shows clear signs of advance fee fraud and is warning anyone contacted to report it to the regulator’s Enforcement team or whistleblowing line on 01534 887557.