Scam Losses Expected to Exceed £5m in 2025

Islanders are expected to lose a record-breaking £5 million to scams in 2025, according to police estimates, as officers report a surge in investment-related fraud.

Inspector Chris Beechey, who leads the Jersey Fraud Prevention Forum, said more than £4 million had already been stolen this year across eight major investment fraud cases. He added that overall fraud reports had climbed to their highest level in four years, although he believed many incidents were still going unreported.

“Investment scams can devastate lives,” Insp Beechey said. “If something sounds too good to be true, it probably is.”

The Fraud Prevention Forum said investment-related scams had grown “increasingly sophisticated.” Criminals were frequently impersonating legitimate financial advisers or creating realistic online platforms that promise high or “risk-free” returns.

The forum also warned that cryptocurrency scams continued to exploit confusion around digital assets such as Bitcoin, convincing victims to transfer money into fraudulent schemes.

Insp Beechey said that while investment and crypto-related fraud had “significantly” increased, more traditional forms of scamming remained a threat.

“The impact on victims can be enormous,” he said. “Whether someone loses a million pounds or just five pounds, the emotional and financial damage can be equally devastating.”

‘Be suspicious’

To help protect the public, the forum issued three key steps:

• Stop – take a moment before clicking a link or sharing information

• Think – question whether the message or offer could be fake

• Protect – contact your bank if unsure and report suspected fraud to police

Insp Beechey urged people to be “as suspicious as possible” and to speak openly about any questionable messages or experiences.

“Fraud thrives in silence,” he said. “Let’s talk about it.”