Ohio Department of Commerce Highlights Fraud Prevention Efforts as Governor DeWine Proclaims April as Fraud Prevention Month

COLUMBUS, Ohio - In recognition of April being proclaimed Fraud Prevention Month by Ohio Governor Mike DeWine, the Ohio Department of Commerce is highlighting the growing threats facing consumers, and the agency's work to protect Ohioans through education, enforcement, and accountability.<_o3a_p>

From romance fraud to deed fraud, and AI-powered impersonation schemes to the financial exploitation of older adults, fraud continues to evolve at a rapid pace. According to the FBI's Internet Crime Complaint Center, Americans reported more than 859,000 complaints and over $16 billion in losses in 2024, which is a 33% increase from the previous year. In Ohio, the Federal Trade Commission found that identity theft was the most common online complaint in 2024, with residents filing 27,766 reports. <_o3a_p>

Across Commerce, multiple divisions work daily to identify, stop and alert Ohioans to scams before they're impacted, while also holding bad actors accountable.<_o3a_p>

"Fraud Prevention Month is a reminder that criminals constantly find new ways to deceive hardworking Ohioans, and we remain vigilant in our efforts to stop them," said Ohio Department of Commerce Director Sherry Maxfield. "Our mission is clear: bring fraudsters to justice and connect Ohioans with the information they need to stay safe and protect what matters most in their lives."<_o3a_p>

Division of Securities
<_o3a_p>Ohio investors are better protected thanks to various key efforts made by the Division of Securities, which has secured millions of dollars in restitution and upheld criminal accountability for those involved in financial fraud. In 2025 alone, the Division secured more than $28 million in civil and criminal restitution, with 15 individuals incarcerated as a result of investigations. <_o3a_p>

In recent months, four individuals have pleaded guilty for their alleged role in a $72 million Ponzi scheme targeting Ohio investors. The case involves Private Wealth Consultants, LTD and Northwest Capital in Lucas County and is the result of a multi-year investigation led by the Division in partnership with the Ohio Attorney General's Bureau of Criminal Investigation.<_o3a_p>

To support individuals who have been impacted by fraud, the Division operates the Ohio Investor Recovery Fund, which has returned more than $2 million in financial relief through civil and criminal proceedings to 130 Ohio residents - including more than $400,000 to 24 victims in 2025 - who suffered monetary losses due to securities-related crimes. The Ohio Investor Recovery Fund is not supported by taxpayer dollars; instead, support for the Fund comes from registration fees and charges paid by Division licensees.<_o3a_p>

Division of Financial Institutions
<_o3a_p>The Division of Financial Institutions provides guidance throughout the year to help Ohioans safeguard their financial information, particularly as AI-driven scams and identity-theft schemes continue to rise. The Division also issues warnings to consumers about seasonal trends and emerging fraud trends, including romance scams, travel fraud, and unlicensed precious metal dealers who may seek to take advantage of unsuspecting Ohioans.<_o3a_p>

The Division's Office of Consumer Affairs (OCA) participates in community events throughout the year encouraging individuals, especially older individuals who are often targeted by fraudsters, to enable multifactor authentication, strengthen passwords, and watch for phishing threats. The OCA also facilitates the consumer complaints process involving state-chartered financial institutions, money service businesses and consumer finance companies.<_o3a_p>

Division of Real Estate & Professional Licensing
<_o3a_p>The Division of Real Estate and Professional Licensing is equipping Ohioans with the information they need to stay safe from fake property listings and deed fraud, which are crimes that have surged nationally and cost Americans tens of millions of dollars. <_o3a_p>

After receiving questions from residents across the state, the Division called attention to unsolicited property offers since these offers, if not managed appropriately, can lead consumers to unknowingly sell their property for significantly less than it's worth or agree to a lease arrangement that could have unintended financial consequences. The Division also continues to share advice with agents and consumers alike to make sure they verify the identities of those with whom they work, review ownership records, and exercise caution when a "seller" pushes for a rapid transaction. <_o3a_p>

The Division has also advanced several initiatives to protect Ohio homeowners. Senate Bill 155, which took effect last month, introduced new safeguards requiring real estate wholesalers to clearly disclose their business model before contracting with property owners. This is an important measure to prevent confusing or predatory offers, especially those affecting older adults. The Division also played a key role in securing a one-time opportunity for homeowners to exit long-term MV Realty "Homeowner Benefit Agreements," providing relief from controversial contracts.<_o3a_p>

Prioritizing Protection for Older Ohioans
<_o3a_p>Seniors remain a top target of scammers, who often exploit trust, technology gaps, and isolation. In 2024, older Ohioans filed more than 302 fraud-related complaints, a 22% increase from the prior year. Many older adults also face aggressive schemes like grandparent scams, romance scams, imposter scams, tech-support fraud, and unsolicited real estate offers. Commerce continues to raise awareness, provide resources, and collaborate with partners such as the Department of Aging to guide families in identifying and stopping these scams. <_o3a_p>

With the number of Ohioans approaching retirement age as high as ever before, with an estimated 18.8% aged 65 or older, the agency recently alerted retirees to the risks they may face from bad actors who have their eyes on their nest eggs. According to the FBI's Internet Crime Complaint Center, Americans aged 60 and older reported more than 140,000 complaints and nearly $5 billion in losses to scams in 2024. In addition, Ohio ranked eighth in the nation for the total number of complaints filed by this age group.<_o3a_p>

Helping Ohioans Spot, Report, and Recover from Scams
<_o3a_p>Most recently for National Consumer Protection Week in March, Commerce developed a special online resource to equip Ohioans with the information they need to know to protect their data, report potential scams, and recover from scams if they've been impacted, including a Scam Reporting Contact List. The agency also amplified scam-prevention messages through various in-person events, virtual engagements, and partnerships with statewide organizations. <_o3a_p>

Ohioans are encouraged to take the following steps to protect themselves:

• <_o3a_p>Always Verify: Before working with someone, confirm the credentials of individuals sch as investment professionals, real estate agents, and precious metal dealers.
• <_o3a_p>Slow Down: Scammers rely on urgency.
• Don't Share: Be sure not to provide personal information with unverified sources.
• <_o3a_p>Avoid Untraceable Payments: These can include things like wire transfers, cryptocurrency, or gift cards.
• <_o3a_p>Tell Someone: Talk to someone you trust before making financial decisions because they may spot something you may have missed.

<_o3a_p>To stay safe from cyber criminals, Ohioans are encouraged to consider following the following best practices:

• <_o3a_p>Update Your Passwords: Updating your passwords regularly with numbers and symbols helps to stay one step ahead of scammers looking to access platforms containing your personal and financial information.
• Enable Multifactor Authentication (MFA): Add an extra layer of protection to your accounts. MFA uses more than just a password, like a code sent to your phone, to verify your identity.
• Update Software Regularly: Whenever possible, turn on automatic updates for your devices and apps to keep security patches current.

<_o3a_p>Ohioans who believe they've been scammed should take the following steps:

• <_o3a_p>Contact Your Bank or Credit Card Company: If you gave out personal information involving your credit card or bank account, contact both entities immediately so they can check for any unauthorized purchases and freeze your accounts.
• <_o3a_p>Notify One of the Three Credit Bureaus: Immediately contact Equifax, Experian, or TransUnion to place a free, one-year initial fraud alert on your credit report. This requires creditors to verify your identity before opening new accounts. If you call one of the three bureaus; they are required to notify the other two. (Equifax: 1-800-378-4329; Experian: 1-888-397-3742; TransUnion: 1-800-916-8800)
• <_o3a_p>Monitor Your Accounts: Even after you change your passwords and contact your financial institutions, keep a close tab on your various accounts such as your bank. If you notice anything unusual or suspicious, notify the entity immediately.

<_o3a_p>If you suspect that you or a loved one has been targeted by an investment fraud, contact the Division's Investor Protection Hotline at 1-877-683-7841 or email [email protected].<_o3a_p>

For additional consumer tips, Ohioans are invited to subscribe the Ohio Department of Commerce's Consumer Email List by clicking here.<_o3a_p>

###<_o3a_p>

About the Ohio Department of Commerce
The Ohio Department of Commerce is the state's chief regulatory agency, focused on promoting prosperity and protecting what matters most to Ohioans. We ensure businesses follow the laws that help them create jobs and keep Ohioans safe. To learn more about what we do, visit our website at com.ohio.gov.