DFI Warns Investors to Stay Alert for Financial Frauds and Imposters Dishing Out Scams This Holiday Season

Olympia – As Thanksgiving approaches, the Washington State Department of Financial Institutions (DFI) reminds investors to be alert for scammers who are setting the table for financial fraud. Don’t let a con artist carve into your savings this holiday season.

According to the North American Securities Administrators Association’s (NASAA) 2025 Enforcement Report, scams involving digital assets, social media, and impersonation remain among the top threats this year. Artificial intelligence (AI) has made it easier for criminals to cook up convincing deceptions. Fraudsters can clone voices, generate fake videos, and impersonate trusted individuals or institutions, all to mislead victims into sharing personal information, transferring funds, or granting access to accounts or devices. These scams are increasingly sophisticated and can be financially devastating for victims and their loved ones. 

“Scammers are serving up more convincing schemes than ever before,” DFI Director Charlie Clark said. “Before you hand over your hard-earned money, take a moment to verify who you’re dealing with. A quick check can keep your savings off the fraudster’s menu.”

DFI encourages investors to follow these steps to help keep their finances safe. 

• Check the ingredients: Always verify that any investment professional or firm is properly registered at DFI’s site: Verify the license
• Don’t bite too fast: Be cautious with unsolicited investment offers, especially those shared through social media, texts, or messaging apps. Verify the product being sold.
• Avoid the pressure cooker: If someone’s pushing you to “act now,” that’s a red flag. Real opportunities don’t come with an expiration timer and remember that if it sounds too good to be true, it probably is.
• Research whether others have filed complaints against the company or product.
• Visit DFI’s Investment Scam Tracker to learn more about investment frauds.
• Visit DFI’s Consumer Alerts page to learn more about potential scams.
• Pass along the warning: If you suspect a scam or have been the victim of a financial fraud, report it to law enforcement or file a complaint with DFI. 

You can learn more about how to identify, prevent and report investment frauds by visiting dfi.wa.gov/10B and NASAA’s investor education resources center.