'Take time to pause' before sending money

People have been urged to take a moment to pause and take extra care before sending money or sharing financial information.

The Jersey Financial Services Commission said it was strengthening protections against authorised push payment fraud, which sees people tricked into authorising payments to criminals.

It added it was working with regulators in Guernsey and the Isle of Man on a coordinated approach and the first focus was at retail banking customers making payments through faster payments and the CHAPS high value same-day payment systems.

The JFSC said scams could be "highly convincing and often involve pressure, urgency or the impersonation of a trusted person, business or organisation".

It said it was encouraging people planning to make payments to question unexpected requests for money, even if they appeared to come from someone they trusted, and contact their bank immediately if they thought they may have been scammed.

Alan Ainsworth, JFSC's director of policy, communications and innovation, said scams could be "distressing and costly".

He said: "These scams are designed to look genuine, which is why it is so important that people take time to stop and check before making a payment.

"The message is simple: if something feels unusual, take a moment, question it and contact your bank straight away if you are concerned."

The financial regulators are looking at prevention and issues including how cases are handled along with policies about reimbursement and customer vulnerability.

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