T. Falls presentation to focus on financial scams

Common financial scams in Montana is the topic of a special presentation set for March 27 at the Thompson Falls Senior Center. Speaker Blaire Stapleton is the Investor Education and Public Outreach Coordinator for the Office of the Montana State Auditor Commissioner of Securities and Insurance in Troy Downing’s Helena office. Common financial scams can include romance, phone, internet and crypto currency. “We will discuss ways for adults including seniors to avoid ponzi schemes, and the like,” Stapleton said.

Crypto currency is a big issue that has affected many Montanans and scams are increasing in the state, Stapleton said. The FBI placed placards on Crypto ATMs in Helena warning people of the danger of losing their money. There are about 40 Crypto ATMs throughout Montana with 12 of them in Helena. Stapleton said business owners have said that elderly people have been seen feeding hundreds of dollars into the ATM machines.

According to information from Stapleton, statistics show that fraud is on the upswing in the U.S. The federal trade commission recently released new data stating that consumers have lost more than $10 billion to fraud in 2023. That is a 14% increase from 2022. The Federal Trade Commission states that consumers reported losing over $1 billion to fraud involving cryptocurrencies from January 2021 through March 2022. The 2023 data has not yet been released, Stapleton added.

“The informational dinner in Thompson Falls will give case studies of actual scams along with arrests and mugshots of perpetrators,” Stapleton said. Dinner will be provided at the March 27 event, which begins at 5:30 p.m. at the Thompson Falls Senior Center, 1191 Mount Silcox Drive. To RSVP for dinner, call (406) 827-3457.