On Wednesday, Aug. 23, REDC participated in an informational meeting with Montana‘s Commissioner of Securities & Insurance (CSI), Troy Downing. Downing and his team were traveling across Montana to spread the word regarding scams and fraudulent activities that his office is seeing. Downing reported, “One of the biggest financial frauds that our office sees, is upon our senior population. Today we are going to talk about “red flags”, what our office does, the resources that we have, and how we aim to protect Montanans.”
“The single most prevalent means that we see being used in scams and fraud is cryptocurrency. The Securities Exchange Commission has said that cryptocurrency are securities that should be regulated as such.” There is no regulatory authority overseeing the transactions, no banks, and they are untraceable.
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