Montana regulators prevented 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, according to a July 16 announcement by State Auditor James Brown’s office.
The state auditor’s office’s securities division, in conjunction with financial industry partners, were able to prevent $1.15 million in fraud-related losses for 10 Montanans from April through June. 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,” Brown said in a press release. “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 also 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 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 percent 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 also 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. Unsolicited requests or guidance to make or complete a transaction using cryptocurrency are a red flag associated with fraud schemes, the division cautions.
“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,” Brown said. “Staying vigilant against the threat of fraud and scams is the first step to protecting yourself.”