WAUSAU, Wis. (WSAW) – More than $10.3 million has been stolen through investment scams in Wisconsin since 2024.
The Wisconsin Department of Financial Institutions (DFI) highlighted its investment scam tracker system. The system lists current scams and warning signs to help protect consumers and their money.
Scammers are using investment schemes to target people in deceptive ways. These are sophisticated digital asset schemes that also include romance schemes.
DFI says its scam tracker alerts consumers to these scams to make it harder for scammers to take money.
Victim filings increase
DFI says from 2023 to 2025, they saw victim filings increase 35%. Case referrals from FINRA and the SEC went up 160%. Senior victims identified in DFI investigations also rose 118%.
Robin Jacobs, attorney supervisor for the DFI enforcement bureau, said there’s one scam in particular they are seeing more…
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.