Online scams have taken more than £300,000 from islanders in the last two weeks.

States of Jersey Police are investigating complaints that people are losing money to fake adverts on social media, which encourage buying into phoney investments.

The posts use the name and images of famous money-saving experts from the UK to lure their victims into a false sense of security.

After unsuspecting islanders click a link advertising BITCOIN, scammers will then phone them, claiming to be a Forex broker.

The victim will then be persuaded to invest in cryptocurrency and other fake investments on an online trading platform.

Deals offered will sound too good to be true, for example doubling initial deposits or other unrealistic returns.

Eventually, more and more money will be taken from the fraudster's targets.

Online criminals usually pay websites and services for false reviews to seem legitimate.

How to spot an online investment scam:

• The scammer will gain trust by claiming to be from a well-known business or celebrity or impersonating a known contact.
• Promises of very high or guaranteed returns.
• Heavy marketing and promotional offers.
• Unnamed, vague or even non-existent team members.
• Pressure to act immediately.

What you should do:

• Research the background of the company or website. If a business is legitimate, you can find information about it online.
• Any business operating above the board with an internet offer will also have a digital footprint.
• Do a general Google search to get information about the company or website, including its location and reputation.
• Potential investors must check that any broker they engage with is a regulated broker and is licenced to provide financial services. Unlicensed brokers are not supervised by government bodies and are not trustworthy.
• Pay close attention to reviews.
• Before making any significant investment, obtain advice from a reputable financial advisor.
• Take your time to decide about online transactions. Scammers will want you to make a decision quickly without thinking about it. They know that if you conduct a little research or reason through it, you'll conclude that the offer is a scam. They want to close the deal as quickly as possible.
• If you believe that you may have been scammed, please report the matter to the police as soon as possible.