Don’t let scammers feast on your finances this Thanksgiving

Stay alert for financial frauds and imposters dishing out scams over the holidays 

NASHVILLE, TN (SPECIAL TO WLAF)- The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division reminds investors to be alert for scammers who may be setting the table for financial fraud during the upcoming Thanksgiving holiday and Black Friday shopping season. Don’t let a con artist carve into your savings this holiday season.  

According to the North American Securities Administrators Association’s (NASAA) 2025 Enforcement Report, scams involving digital assets, social media, and impersonation remain among the top threats this year. Artificial intelligence (AI) has made it easier for criminals to cook up convincing deceptions. Fraudsters can clone voices, generate fake videos, and impersonate trusted individuals or institutions, all to mislead victims into sharing personal information, transferring funds, or granting access to accounts or devices. These scams are increasingly sophisticated and can be financially devastating for victims and their loved ones.   

“Scammers are serving up more convincing schemes than ever before,” said TDCI Assistant Commissioner Elizabeth Bowling. “Before you hand over your hard-earned money, take a moment to verify who you’re dealing with. A quick check can keep your savings off the fraudster’s menu. I encourage Tennesseans who have questions about an investment to remember they can always contact our team for assistance online, by email, or calling 800-863-9117.”  TDCI’s Securities Division encourages investors to follow these steps all year long to help keep their finances safe.  

• Check the ingredients: Always verify that any investment professional or firm is properly registered in your state or province. You can find your regulator here. 

• Don’t bite too fast: Be cautious with unsolicited investment offers, especially those shared through social media, texts, or messaging apps.  

• Avoid the pressure cooker: If someone’s pushing you to “act now,” that’s a red flag. Real opportunities don’t come with an expiration timer and remember that if it sounds too good to be true, it probably is. 

• Pass along the warning: If you suspect a scam or have been the victim of a financial fraud, report it to law enforcement or your state securities regulator. Learn more about investment frauds and how to protect yourself by visiting TDCI’s Securities Division online and NASAA’s investor education resources center.   

About the Tennessee Department of Commerce & Insurance. Protecting Tennesseans, empowering professionals. Our divisions include  the State Fire Marshal’s Office, Insurance, Securities, Regulatory Boards, the Tennessee Law  Enforcement Training Academy, the Tennessee Emergency Communications Board,  and TennCare Oversight. (WLAF NEWS PUBLISHED-11/25/2025-6AM)