The Wisconsin Department of Financial Institutions has launched a scam tracker to protect investors from crypto and investment fraud. This tool helps Wisconsinites identify deceptive practices based on consumer complaints.
Between January 2022 and June 2024, over $3.5 million in losses were reported due to financial grooming and cryptocurrency fraud, often called “pig-butchering.” DFI Secretary Cheryll Olson-Collins emphasized the need for vigilance.
The tracker, updated continually, allows searches by company names, scam types, and keywords. It includes a FAQ section and a glossary of terms. Olson-Collins advised against giving money or access to financial accounts to anyone met online to prevent fraud.
