Secretary of State Diego Morales Warns Hoosiers: Scammers Offer Tricks, Not Treats

Office of Indiana Secretary of StateDiegoMorales

200 W. Washington St. Indianapolis, IN 46204

FOR IMMEDIATE RELEASE
Thursday, October 30, 2025

Secretary of State Diego Morales Warns Hoosiers:

Scammers Offer Tricks, Not Treats

INDIANAPOLIS- (October 30, 2025) - As Halloween approaches, the Indiana Securities Division is reminding Hoosiers to beware of scammers impersonating government officials, law enforcement, or financial experts.

According to the 2025 Enforcement Report from the North American Securities Administrators Association (NASAA), scams involving digital assets, social media, and impersonation remain among the top threats this year. The rise of artificial intelligence has made it easier for criminals to clone voices, create fake videos, and impersonate trusted individuals to steal money or personal information. This all results in tricking victims into sharing personal information, transferring money, or granting remote access to devices. These scams are increasingly polished, personalized, and difficult to detect until after significant losses occur.

Even more concerning are reports of in-person scams. In a recent case, investigators arrested a suspect who traveled across the country to collect hundreds of thousands of dollars from a victim who believed they were investing in cryptocurrency. The case is part of a growing "pig butchering" scheme in which criminals build trust with victims before luring them into fraudulent investments. Other reports describe so-called "gold traders" or "bankers" who contact victims online, build rapport, and later arrive in person to collect cash, gold, or gift cards under false pretenses.

"Our office is working hard to protect Hoosiers from scams that target their hard-earned money. We urge everyone to stay cautious, double-check before investing, and report suspicious activity immediately," said Diego Morales, Indiana Secretary of State.

The Indiana Securities Division urges Hoosiers to:

• Verify before you invest: Check registration of investment professionals at Securities.sos.in.gov
• Be skeptical of unsolicited offers: Especially those made through social media or messaging apps
• Don't rush: High-pressure tactics are a red flag
• Report suspicious activity: Call 317.232.6681 or visit Securities.sos.in.gov

-30-

Media Contact - Lindsey Eaton 317.775.8909 or [email protected]