Wisconsin’s Department of Financial Institutions （DFI） launches a scam tracker to protect investors from rising crypto and investment fraud.
Points
- Over $3.5 million in losses reported due to financial grooming and crypto fraud.
- DFI’s tracker aims to alert and protect investors from scams.
- Tracker includes a FAQ section, glossary, and links to additional resources.
- The public is urged to verify companies through trusted sources before investing.
The Wisconsin Department of Financial Institutions has launched a scam tracker to protect investors from crypto and investment fraud.
Between January 2022 and June 2024, over $3.5 million in losses were reported due to financial grooming and cryptocurrency fraud, often referred to as “pig-butchering.”
“Scammers are in the shadows using the public’s interest in crypto assets to take advantage of the most vulnerable Wisconsinites,” stated DFI Secretary Cheryll Olson-Collins.
Today @WIS_DFI announced it has launched an investment scam tracker to help Wisconsinites spot and avoid financial investment scams, including cryptocurrency scams. Learn more at: https://t.co/fS6aQj4Oyg. pic.twitter.com/Pw7KrLFwP6
https://twitter.com/WIS_DFI/status/1818317584871178733
The
tracker, which will be updated continually, allows users to search company names, scam types, or even keywords. It includes a FAQ section, a glossary of investment scam terms, and links to additional resources.
While the DFI does not verify the factual details of the complaints, the information is shared with the public, making it more challenging for scammers to deceive investors.
“To be safe, do not give money to anyone you meet online, or allow them access to your bank account or digital wallet. Do not transfer money on their behalf, do not invest your own money on their advice, and do not take out a loan for them. If you follow these rules, you are less likely to be a victim of a cryptocurrency investment scam,” Olson-Collins said.
With the rise of imposter scams, where fictitious companies mimic legitimate ones, the DFI urged the public to verify companies through trusted government sources before investing.
解説
- The DFI’s scam tracker enhances investor protection by providing a searchable database of complaints.
- It aims to increase public awareness and reduce the risk of falling victim to scams.
- Regular updates and comprehensive resources help investors make informed decisions.
- Verification through trusted sources is crucial to avoid imposter scams and protect investments.