The island’s regulator issued the alert after investigators found an Australian business calling itself Focus on Market was approaching people without authorisation.
Through its enquiries, the Jersey Financial Services Commission (JFSC) has established that the firm is not regulated in either Jersey or Australia but is offering local residents investment opportunities in a variety of shares, stocks and foreign exchange transactions.
Recent scams on the island have included the Facebook bitcoin hitman and disgraced advice firm Lumiere Wealth. Con artists are thought to target the offshore centre because of its international success and perception of its wealth.
The JFSC is warning islanders to be mindful of any unsolicited approaches by investment businesses and to carry out vital checks before committing any money or providing personal details to a firm.
Any investment business wishing to operate in the island must be licensed by the JFSC or hold an appropriate exemption.
JFSC director of enforcement, Barry Faudemer, commented: “We would recommend that you always independently verify any investment firm, manager or adviser.
“Check to see if they are licensed by the JFSC or, if they state that they are licensed in another jurisdiction, check the details with the relevant financial regulatory authority there. We would always advise taking independent professional advice before making any investment and never be afraid to ask questions.”
