It’s important not to panic if you are targeted so you don’tmake a decision you could regret. Instead take time to research, reflect and consult a third party before parting with yourmoney.
your money. Never give out your personal security details such as banking PINs, passwords or other confidential information as your bank would never ask for these details. And if you do fall victim, don’t be too embarrassed to report it, however minor. It’s likely other people are in the same boat and your information could form part of a bigger picture which is vital to preventing others from being defrauded. If you think you or someone you know has been targeted, you should report it and tell a friend or family member. Research shows that fewer than 5% of people do actually report frauds and scams. The Jersey Fraud Prevention Forum wants to change that statistic and is encouraging more Islanders to come forward.
are victims of scams and frauds suffer from severe stress, 57% feel embarrassed, 48% feel responsible, 65% experience health problems of which 35% suffer with depression, and nearly three quarters of people feel betrayed.
f
That is how Islander Cynthia Binet felt after she lost nearly half a million pounds in an elaborate investment fraud. She had known and trusted her Independent Financial Advisor for fourteen years before he invested all her savings in a high risk product and convinced her to take a mortgage on her home so she could plough even more into the investment in property. Cynthia, who was going through a particularly tough period of her life with the loss of her mother and good friend, believed her advisor when he said it was a safe bet. This was far from the truth and she paid the price. Retired and on her own, Cynthia struggles each month with her mortgage repayments:
‘You feel violated. I suppose that’s the word. I felt I’d been groomed. I was sort of…he knew my situation. I couldn’t bring myself to tell anyone because I trusted him as a friend. Losing the money was bad but it was the betrayal by someone who made out he was my friend when he wasn’t at all; he was just helping himself to my life savings.’
d when he wasn t at all;
The IFA behind this property scam was closed down in 2008 and the principal offenders were banned from the industry and received substantial prison sentences. But Cynthia and other investors never saw their money again.
n.
Every day Islanders continue to be conned, ripped off and scammed. Typically the fraudsters target the elderly and more vulnerable, particularly preying on those who are on their own. In fact those who are retired and have resources are three and a half times more likely to be defrauded.
Whether an elaborate investment fraud, a banking/payment card scam, a cyber-related crime, or a postal, ticketing or dating scam, there are some simple steps to take to avoid being duped by fraudsters.
First and foremost, take a moment to just question whether the person, e-mail, text, call or mail is legitimate and that could make all the difference. It’s important not to panic if you are targeted so you don’t make a decision you could regret. Instead take time to research, reflect and consult a third party before parting with
A collective of local organisations working together, the JFPF raises awareness and provides advice about frauds and scams affecting people in Jersey. To help Islanders who are being targeted by postal and e-mail scams, the group has set up PO Box 500 and
scams500@police.je so people can re-direct the mail and e-mails to the Police for further investigation. The Forum’s website also offers useful advice on different types of fraud and scams and how to identify them, as well as how to remain vigilant.
The important thing is not to be fooled. When you receive unsolicited correspondence, calls or visits be a little mistrusting - don’t take everything at face value. Being scam savvy and fraud aware you have a better chance of protecting your money from fraudsters. If in any doubt telephone The States of Jersey Police on 612612.
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An Ageing Island
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