| FOR IMMEDIATE RELEASE Date: July 16, 2026 Contact: Ethan Holmes Ethan.Holmes@mt.gov |
| July 16, 2026 FOR IMMEDIATE RELEASE HELENA, Mont. — Montana State Auditor James Brown and his team helped to prevent more than $1 million in fraud-related losses for Montanans in the second quarter of 2026, bringing the total amount of losses prevented this year to more than $2 million. The agency’s Securities Division, in conjunction with financial industry partners, prevented $1.15 million in fraud-related losses for 10 Montanans from April through June 2026. Year to date, the Division has prevented $2.13 million in fraud-related losses for 16 Montanans, 15 of which 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,” Auditor 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 Securities Division received 32 fraud complaints during the second quarter of this year, including 26 complaints in which the suspected victim was over the age of 60. In total, the Division has received 54 complaints in 2026, three-quarters of which concerned victims over the age of 60. Victims reported $3.95 million in losses during the second quarter, 86% of which is known or suspected to have been facilitated using cryptocurrency. Reported losses known to have involved the use of cryptocurrency total $1.89 million, and another $1.52 million in reported losses is suspected to have involved cryptocurrency. Montanans have reported a total of nearly $7.6 million in fraud-related losses so far this year. The Securities Division urges Montanans who are interested in cryptocurrency investments to discuss the matter with a registered financial advisor. A free tool to check whether an individual is registered to give financial advice or facilitate investments can be found at https://brokercheck.finra.org/. Unsolicited requests or guidance to make or complete a transaction using cryptocurrency are a red flag associated with fraud schemes. “Fraudsters manipulate and take advantage of some of the most vulnerable members of our communities. Their criminal activities thrive in the dark; we need victims and their advocates to come forward if they suspect they have been defrauded or scammed,” Auditor Brown said. “Staying vigilant against the threat of fraud and scams is the first step to protecting yourself.” Auditor Brown has made public outreach and education a top priority of the agency under his leadership. Those efforts are helping to bring more cases to the attention of the agency, as indicated by an increase in fraud reports to the office. To learn more about Auditor Brown’s fraud prevention and prosecution efforts, Montanans can sign up for the CSI newsletter and review advisories at https://csimt.gov. The agency encourages anyone who has been the victim of a scam or fraud to reach out for assistance at 406-444-2040. ### 840 Helena Avenue, Helena, Montana 59601 (main fax) 406.444.3413 I (securities fax) 406.444.5558 (insurance consumer services fax) 406.444.1980 I (legal fax) 406.444.3499 (phone) 800.332.6148 or 406.444.2040 I (email) csi@mt.gov I (web) www.csimt.gov |
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