Wisconsin Unveils Public Tracker to Combat Crypto Investment Scams
The Wisconsin Department of Financial Institutions (DFI) has launched a publicly accessible investment scam tracker in a bid to combat financial and crypto scams and fraud.
According to a report from the DFI, Wisconsinites fell victim to scams amounting to approximately $3.55 million between January 2022 and June 2024.
To prevent future losses, the newly unveiled tracker relies on consumer complaints to compile essential threat data, with the primary objective of alerting the public about prevalent scams and making it increasingly challenging for scammers to deceive more investors.
The tracker has already cataloged 22 entries sourced from past complaints, with a significant number of victims being lured into pig butchering schemes or fraudulent cryptocurrency trading platforms.
“Through our new investment scam tracker, combined with rigorous enforcement efforts, the DFI is committed to shining a light on these ruthless predators and protecting consumers and investors,” DFI Secretary Cheryll Olson-Collins said.
While the DFI refrained from verifying specific details and losses reported by complainants, the tracker serves as a vital tool to warn and safeguard crypto investors against potential threats.
Continuously updated and searchable by company name, scam type, or keywords, the tracker aims to empower individuals with information to make informed investment decisions.
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
— Wisconsin Department of Financial Institutions (@WIS_DFI) July 30, 2024
Secretary Olson-Collins also cautioned citizens about the
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