Montana State Auditor James Brown announced his Securities Division prevented more than $1 million in fraud-related losses for Montanans in the second quarter of 2026, bringing the year-to-date total to more than $2 million.
Working in conjunction with financial industry partners, the Securities Division prevented $1.15 million in fraud-related losses for 10 Montanans between April and June. Year to date, the division has prevented $2.13 million in fraud-related losses for 16 Montanans, 15 of whom were over the age of 60.
“Fraud is on the rise both nationwide and right here in the Treasure State. My office is working with financial institutions to stop fraud in its tracks, before money even leaves victims’ accounts,” Brown said. “Montana is lucky to be one of just seven states with a restitution fund for victims of securities fraud, but it’s even better to prevent fraud losses in the first place.”
The division received 32 fraud complaints during the second quarter, including 26 involving suspected victims over the age of 60. In total, the division has received 54 complaints in 2026, three-quarters of which concerned victims over 60.
Victims reported $3.95 million in losses during the second quarter alone, with 86% known or suspected to have been facilitated using cryptocurrency. Reported losses known to have involved cryptocurrency total $1.89 million, with another $1.52 million in reported losses suspected to have involved it. Montanans have reported nearly $7.6 million in total fraud-related losses so far this year.
The division urged Montanans interested in cryptocurrency investments to consult a registered financial advisor, noting that unsolicited requests to complete transactions using cryptocurrency are a common red flag in fraud schemes. A free tool to verify whether an individual is registered to give financial advice or facilitate investments is available at brokercheck.finra.org.
“Fraudsters manipulate and take advantage of some of the most vulnerable members of our communities,” Brown said. “Staying vigilant against the threat of fraud and scams is the first step to protecting yourself.”
By: DNU News wire