Scammers Offer Tricks, Not Treats, This Halloween.

MONTPELIER, Vt. - As Halloween approaches, the Vermont Department of Financial Regulation, Securities Division, (Division) is warning the public to stay alert for 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 are among the top threats this year, with artificial intelligence (AI) making it easier for criminals to create convincing fakes. Fraudsters can now clone voices, generate fake videos, and impersonate trusted individuals or organizations. 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," "bankers," or even fake law enforcement officers who contact victims online, build rapport, and later arrive in person to collect cash, gold, or gift cards under false pretenses.

"An investment scam may be lurking in your text messages, phone calls, or social media accounts," Securities Deputy Amanda Smith says. "Always verify requests for money or personal information and never engage with suspected fraudsters. Even small interactions can have serious consequences. Some scammers retaliate by filing false police reports that bring law enforcement to victims' doors."
The Division offers the following tips to protect yourself from investment fraud:

• Verify before you invest: Check the registration of investment professionals and firms at FINRA Broker Check. If a caller claims they are from law enforcement or a financial institution, verify their identity by reaching out directly to the institution using independently obtained contact information.
• Be skeptical of unsolicited offers: Scammers often use social media or messaging apps to lure victims.
• Strengthen cybersecurity: Pick a strong password using twelve or more characters that include symbols, numbers, and both capital and lowercase letters, including multi-factor authentication to protect personal accounts.
• Check if the website is (HTTP Secure): Authenticated websites begin with https:// instead of http:// and show a padlock icon in the URL indicating a secure connection.
• Don't rush: High-pressure tactics are a red flag. Take time to consider your options and ask a trusted friend or loved one for their opinion before sharing financial information with a third party.
• Report suspicious activity: Email the DFR Securities Division or visit the DFR website to file a complaint.