Video & Transcript : 'suspicious transaction' :

Page 5 of 211
TX
TX

Texas 89th Regular

Pensions, Investments & Financial Services Apr 14th, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • Then the party's transaction is kind of complete.
  • It just costs more money to process that transaction.
  • In a debit transaction, it's far smaller.
  • Transactions were capped out at a certain level.
  • It's a break-even or a lost money transaction.
Bills: HB245 , HB700 , HB2783 , HB3526 , HB3900 , HB4061 , HB4124 , HB4166 , HB4395 , HB4534 , HB4609 , HB4641 , HB4736 , HB4738 , HB4739 , HB4945 , HB5015 , HJR175 , HB245
Committee: House Pensions, Investments & Financial Services
Keywords: military service, retirement, law enforcement, custodial officer, Employees Retirement System, commercial financing, brokers, registration, disclosures, finance, consumer protection, fees, deferred compensation, automatic participation, county employees, payroll deductions, retirement plans, fiscal transparency, local government, bond issuance
FL
FL

Florida 2026 Regular Session

Banking and Insurance Mar 10th, 2025

Banking and Insurance

Transcript Highlights:
  • People with cancer could be dropped from coverage if they're diagnosed with cancer, if they have a suspicious
  • People with cancer could be dropped from coverage if they're diagnosed with cancer, if they have a suspicious
  • And this bill modifies the conditions under which certain security transactions are exempt from registration
  • investment advisor, and I think in a prophylactic sense, exercising caution to delay disbursement transaction
Committee: Senate Banking and Insurance
Summary: The committee heard and acted on six bills. SB 480, by Senator DeSigley, would allow a narrowly tailored nonprofit agricultural organization to offer health coverage to its members, especially farmers and ranchers, outside the Florida Insurance Code; supporters said it would improve affordable access in rural areas, while the American Cancer Society Cancer Action Network warned the plans would not have to cover preexisting conditions or comply with ACA protections. An amendment aligning the bill with the statute for nonprofit religious organizations was adopted, and the bill passed as amended. SB 1226, also by Senator DeSigley, would create a regulatory framework for pet insurance and wellness programs; it drew no opposition and was reported favorably. SB 988, by Senator Truenow, would revise securities exemption and filing requirements under Florida’s Invest Local exemption law; a strike-all amendment clarifying terms, fingerprinting, and related compliance provisions was adopted, and the bill was reported favorably with the committee substitute. SB 944, by Senator Davis, would correct an omission in the law governing insurance overpayment claims so the 12-month limit applies to psychologists and HMO claims, with an effective date tied to January 1, 2026; the Florida Psychological Association supported the measure, and it was reported favorably with committee substitute after an amendment. SB 756, by Senator Burton, would remove the age-8 diagnosis cutoff and age cap for mandated insurance coverage for autism services, update the autism definition to the current DSM, and also repeal age caps for Down syndrome diagnosis; disability advocates and provider groups supported the bill, and it passed as amended. SB 1078, introduced on behalf of Senator McLean, would streamline permitting and inspection procedures for certain fire alarm and sprinkler projects, set deadlines for local agencies, limit extra documentation demands, and restrict enforcement of local ordinances not properly submitted; fire industry representatives supported the compromise amendment, some senators questioned local flexibility and permitting delays, and the bill was reported favorably after the amendment was adopted. The committee also approved a motion allowing staff to make technical and conforming changes and then adjourned.
MN
MN

Minnesota 2025-2026 Regular Session

House Fraud Prevention and State Agency Oversight Policy Committee 3/23/26

Fraud Prevention and State Agency Oversight Policy

Transcript Highlights:
  • </c> were transactions at 10,000 or above. were transactions at 10,000 or above.
  • </c> a transaction for $3,000. a transaction for $3,000.
  • </c><01:04:01.120><c> So,</c><01:04:01.359><c> the</c> and report suspicious activity.
  • So, the and report suspicious activity.
  • And this is very suspicious undeniable.
Committee: House Fraud Prevention and State Agency Oversight Policy
WA
WA

Washington 2025-2026 Regular Session

House State Government & Tribal Relations Jan 16th, 2026 at 08:00 am

State Government & Tribal Relations

Transcript Highlights:
  • House Bill 2205 keeps sports wagering firmly within the regulated tribal marketplace, where transactions
  • are monitored, suspicious activity is reported, and responsible gaming requirements are enforced.
  • From an operational standpoint, regulated wagering means monitoring betting patterns and reporting suspicious
  • Regulated wagering means monitoring betting patterns, reporting suspicious activity, and working directly
  • in-state college teams will allow tribal gaming operators and integrity monitoring services to detect suspicious
Bills: HB2205 , HB2309 , HB2206 , HB2123 , HB2120 , HB2411
Committee: House State Government & Tribal Relations
Keywords: sports wagering, gambling regulation, state control, licensing, consumer protection, state employment, classified service, civil service, job qualifications, degree requirements, postgraduate degree, master's degree, doctorate, higher education, Office of Financial Management, OFM, classification plan, salary survey, market rate pay, compensation
WA
WA

Washington 2025-2026 Regular Session

House State Government & Tribal Relations Jan 16th, 2026

Transcript Highlights:
  • House Bill 2205 keeps sports wagering firmly within the regulated tribal marketplace, where transactions
  • are monitored, suspicious activity is reported, and responsible gaming requirements are enforced.
  • From an operational standpoint, regulated wagering means monitoring betting patterns, reporting suspicious
  • Regulated wagering means monitoring betting patterns, reporting suspicious activity, and working directly
  • in-state college teams will allow tribal gaming operators and integrity monitoring services to detect suspicious
Summary: The committee began in executive session with staff briefing several bills and proposed amendments. House Bill 2206, concerning uniformed and overseas civilian voting standards, was discussed but ultimately pulled from consideration for the day. House Bill 2123, dealing with foreign national donor reporting, was amended to raise the certification threshold to $6,000 and then advanced from committee on a 5-2 vote. House Bill 2120, which would remove two JLARC reporting requirements, also passed unanimously. House Bill 2411, authorizing shared leave for state employees involved in immigration enforcement actions or who are victims of hate crimes, was amended and then reported out on a 5-2 vote after debate over eligibility and privacy-related language. The committee then held hearings on House Bill 2309 and House Bill 2205. HB 2309 would bar state civil service classifications from requiring a postgraduate degree unless required by law, with the sponsor and OFM saying it would reduce barriers to state employment and expand the applicant pool. Testimony in support emphasized workforce access, equity, and skill-based hiring. HB 2205 would expand tribal sports wagering to allow bets placed at any tribal gaming facility and permit wagering on Washington college teams, while continuing to prohibit bets on individual Washington student-athlete performance. Tribal leaders and casino operators supported the bill as a way to bring existing illegal betting into a regulated tribal system and improve integrity monitoring, while the University of Washington and Washington State University opposed it, warning of harassment, student-athlete safety concerns, and broader gambling harms. A taxpayer advocacy witness urged broader online sports betting options, arguing that limiting access drives bettors to offshore markets. The hearing on HB 2205 was left open and HB 2309 testimony concluded without further action.
WA
WA

Washington 2025-2026 Regular Session

House Consumer Protection & Business Feb 24th, 2026

Transcript Highlights:
  • The bill the committee passed last year had a $1,000 daily transaction limit.
  • $5 or 15% of the U.S. dollar equivalent of virtual currency in the transaction.
  • monitoring and transaction analytics software as part of their compliance program.
  • That fragments monitoring and makes suspicious activity harder to detect.
  • Fraud is driven by deception, not transaction size.
Summary: The committee heard public testimony on several insurance and consumer protection bills. On engrossed substitute Senate Bill 5928, staff and the Office of the Insurance Commissioner described wildfire risk score and model disclosure requirements for homeowners, including notices when policies are nonrenewed, canceled, or premiums are adversely affected, plus insurer website disclosures about mitigation discounts and rate filing transparency. Supporters, including the OIC, AARP, the mayor of Medical Lake, and a fire chief, said the bill would improve transparency, help homeowners understand and reduce wildfire risk, and protect consumers facing cancellations and rising premiums. Industry witnesses said they supported the goal but warned the bill could add regulatory cost and complexity, and some urged narrower, simpler disclosure language and a delayed implementation date. On engrossed substitute Senate Bill 6031, which would expand the insurance fraud program and create a standalone Class B felony for insurance fraud, the OIC and AARP supported the bill as a tool against organized fraud and restitution for victims. A criminal defense representative raised concerns that the new felony language overlaps with existing misdemeanor insurance fraud law and could create conflicting statutes and harsher penalties for the same conduct. The committee also heard testimony that the bill had already incorporated amendments limiting criminal investigators’ role in regulatory investigations and focusing them on complex schemes. The committee then heard substitute Senate Bill 6248 on travel insurance, described as largely mirroring a House bill already passed by the committee. Testimony from the travel insurance industry said agreed-upon amendments had been incorporated, including changes addressing conflict-of-interest concerns, and urged the bill’s advancement. Finally, the committee heard substitute Senate Bill 6079, which would create the Strengthen Washington Homes grant program to fund wildfire home-hardening and prohibit insurers from using wildfire risk as a disqualifying factor for homes meeting IBHS wildfire-prepared standards. The OIC, fire commissioners, AARP, and the prime sponsor supported the bill as a way to reduce nonrenewals and improve insurability, while insurers opposed Section 7, arguing it could interfere with underwriting and should be removed if the bill is to remain a grant program. The committee also began hearing engrossed Senate Bill 5280 on virtual currency kiosks, with staff and the Department of Financial Institutions describing daily transaction caps, fee limits, disclosures, and receipts to curb fraud; consumer protection and law enforcement witnesses supported the bill, while industry witnesses raised concerns about burdens on compliant businesses and passive retail hosts.
AZ
AZ

Arizona 2026 Regular Session

04/08/2026 - House Floor Session

Arizona House Floor Meeting

Transcript Highlights:
  • It enhances dealer training so lawful businesses can recognize suspicious bulk purchases and trafficking
  • Merchant code categories serve as an important mechanism for identifying potentially suspicious purchasing
  • Law enforcement and financial institutions rely on these business codes to flag transactions that warrant
  • Platforms like Zelle, PayPal, and Venmo prohibit firearms and ammunition transactions under their terms
KY
KY

Kentucky 2026 Regular Session

House Standing Committee on State Government (3-19-26) - Upon Adjournment

State Government

Transcript Highlights:
  • House Bill 283 is an act relating to foreign transactions in the Commonwealth.
  • , adversarial foreign transactions, that happen within the Commonwealth.
  • ,</c><00:04:26.320><c> adversarial</c> review foreign transactions, adversarial review foreign transactions
  • , adversarial foreign<00:04:27.560><c> transactions,</c> foreign transactions, foreign transactions,
  • Um, and I just want to say I usually get suspicious when committee subs come this late, but uh, this
Committee: House State Government
CA
CA

California 2025-2026 Regular Session

Assembly Banking and Finance Committee Jan 12th, 2026

Banking and Finance

Transcript Highlights:
  • enough information, IC3 actually has the ability within about a 48 to 72 hour window to stop those transactions
  • from the victim so that we get a complete picture, and hopefully they'll be able to stop those transactions
  • This seems suspicious.
  • using AI, ADS, to determine whether or not it is fraud, and then they will do what they do with the transaction
Committee: House Banking and Finance
AZ
AZ

Arizona 2026 Regular Session

03/31/2026 - Senate Appropriations, Transportation and Technology

Appropriations, Transportation and Technology

Transcript Highlights:
  • Chair and members, current statute authorizes the state treasurer to pay state prime contracting transaction
  • Chair and members, current statute authorizes the state treasurer to pay state prime contracting transaction
Bills: HB2014 , HB2111 , HB2156 , HB2165 , HB2202 , HB2305 , HB2321 , HB2399 , HB2403 , HB2416 , HB2418 , HB2446 , HB2601 , HB2615 , HB2620 , HB2812 , HB2939 , HB2940 , HB2955 , HB2957 , HB2960 , HB2992 , HB4026 , HB4049
Committee: Senate Appropriations, Transportation and Technology
Keywords: air emissions, fuel blends, environmental quality, feasibility study, Arizona Department of Agriculture, driver license, examinations, motorcycle awareness, public safety, traffic laws, livestock, compensation, funding, ranching, agriculture, veterans, state parks, admission fees, military exemption, recreation access
AZ
AZ

Arizona 2026 Regular Session

02/02/2026 - Senate Finance

Finance

CA
CA

California 2025-2026 Regular Session

Assembly Labor and Employment Committee Mar 18th, 2026

Transcript Highlights:
  • Other surveillance tools secretly monitor body movements using gait recognition, flagging suspicious
  • When you have an incident, when you have a lost child in the theme park, when you have suspicious...
  • When you have an incident, when you have a lost child in the theme park, when you have suspicious personnel
  • Also in 1582 subdivision F, the venue is either where the employer resides or transacts business.
  • And our concern with the second clause of transacting business is whether or not this could ultimately
Summary: The Assembly Labor and Employment Committee heard several workplace-related bills. AB 1803 would require anti-hate speech training as part of existing harassment prevention training for employers with five or more employees; supporters said it would help workers recognize and report workplace hate, while opponents raised First Amendment and definitional concerns. The bill passed on a do pass motion and was re-referred to Judiciary, with the roll left open for absent members. AB 1940 would add perimenopause, menopause, and postmenopause to FEHA’s sex protections and clarify related workplace protections; supporters emphasized workplace equity and retention, while business groups said existing accommodation laws already cover many issues and raised concerns about expanding protected classifications. It also passed and was re-referred to Judiciary with the roll open. AB 1838 would require bidders on public works projects to disclose recent wage-and-hour violations and how they were addressed; labor groups supported the transparency measure, while contractors and business groups questioned definitions and disclosure scope. It passed and was re-referred to Judiciary. AB 1859 would give joint labor-management committees access to public works job sites to help identify labor-law violations; supporters said it would improve enforcement of wage theft laws, while opponents raised due process, property access, and constitutional concerns. It passed and was re-referred to Judiciary. The committee also considered two workplace AI and surveillance bills. AB 1883 would prohibit certain invasive surveillance technologies in the workplace, including facial, gait, and emotion recognition, while placing limits on some facial recognition uses; supporters argued these tools are discriminatory and unreliable, and opponents said a ban was too broad and could eliminate useful safety and operational tools. The bill passed and was re-referred to Privacy and Consumer Protection. AB 1898 would require employers to give workers advance notice before using AI tools to surveil or manage workers, including disclosure of the tool’s purpose, data collected, and affected decisions; supporters framed it as a basic transparency measure, while opponents objected to the breadth of notice requirements, possible veto power over deployment, and enforcement language. It also passed and was re-referred to Privacy and Consumer Protection. The committee additionally took up AB 1707, which passed and was re-referred to Appropriations with a consent-calendar recommendation, though the transcript does not provide the bill’s subject matter.
CA
CA

California 2025-2026 Regular Session

Assembly Labor and Employment Committee Mar 18th, 2026

Labor and Employment

Transcript Highlights:
  • Other surveillance tools secretly monitor body movements using gait recognition, flagging suspicious
  • When you have an incident, when you have a lost child in the theme park, when you have suspicious...
  • When you have an incident, when you have a lost child in the theme park, when you have suspicious personnel
  • Also in 1582 subdivision F, the venue is either where the employer resides or transacts business.
  • And our concern with the second clause of transacting business is whether or not this could ultimately
Committee: House Labor and Employment
WA
WA

Washington 2025-2026 Regular Session

House Consumer Protection & Business Dec 5th, 2025 at 08:00 am

Consumer Protection & Business

Transcript Highlights:
  • They did an analysis of those transactions over a five-month period.
  • But 93% of those transactions were fraudulent.
  • These are not people executing real transactions.
  • Transactions peer-to-peer. That's Zelle, Venmo, Cash App.
  • Those transactions are considered authorized.
Committee: House Consumer Protection & Business
Summary: The committee began with a work session on the Joint Legislative Audit and Review Committee’s cannabis market study, presented by Susanna Pratt. JLARC found that Washington produced roughly two to three times more cannabis than retailers sold in 2023, and that incomplete, unreliable traceability data limits the Liquor and Cannabis Board’s ability to regulate, verify taxes, and track diversion. The presentation also reviewed canopy estimates, market conditions since legalization, and the social equity program. JLARC recommended that LCB submit a plan by the end of 2025 for obtaining accurate licensee data by the end of 2026; LCB partially concurred and said a 2027 implementation timeline was more realistic. JLARC also recommended the legislature consider broader ways to increase equity beyond new producer licenses, noting that 10 new producer licenses would likely have only a minimal effect on overall production capacity. Members asked about social equity licensing delays and about whether Washington could look to other states’ traceability systems, including Biotrack and Metric, for model practices. The committee then heard a series of presentations on financial fraud and scam prevention. Paul Benda of the American Bankers Association described the scale of fraud losses, the role of telecom spoofing, social media scams, SIM farms, and crypto ATMs, and argued for a shared-responsibility approach involving banks, telecoms, social media companies, and regulators. He noted that Australia’s whole-of-government anti-scam model has reduced losses and said Washington could look to other states for model legislation, including crypto ATM restrictions and telecom accountability measures. Katie Clark of IQ Credit Union described member-to-member fraud, romance scams, and the emotional and financial harm to victims, emphasizing the need for education, information sharing, law enforcement partnerships, and stronger protections around scam-related transfers. She also highlighted the role of high school financial education and the challenges posed by authorized peer-to-peer transfers and crypto ATMs. Kyle Innes of SIFMA focused on investor scams, especially “pig butchering” and other crypto-related relationship scams, and said Washington’s 2009 report-and-hold law for vulnerable adults helped shape similar laws in most other states. He stressed that fraud has become more professionalized and international, and that better coordination among adult protective services, law enforcement, and financial firms is needed. Brian Gerard and Ali Higgs of the Department of Financial Institutions then described pig-butchering scams in more detail, including fake profiles, fake trading platforms, and escalating demands for more money, and said recovery is difficult because funds move quickly through crypto channels. They pointed to DFI’s investment tracker and other consumer education efforts as tools to warn the public and disrupt scams.
HI
HI

Hawaii 2025 Regular Session

CPC Public Hearing - Tue Feb 4, 2025 @ 2:00 PM HST

Consumer Protection & Commerce

Transcript Highlights:
  • , including suspicious activity reports, travel rule requirements, and currency transaction reports,
  • </c> oversite the proposed transaction oversite the proposed transaction Limited<00:47:45.559><c> in<
  • Once the transaction is completed on the network, we no longer have control to reverse that transaction
  • </c> if an individual makes a transaction if an individual makes a transaction they<00:52:32.079><c>
  • </c> have our own internal um transaction have our own internal um transaction limits<00:53:09.559><c
Committee: House Consumer Protection & Commerce
Summary: The committee heard testimony on several bills related to consumer protection, liquor regulation, construction procurement, and state contracting. On House Bill 565, DCCA and the Office of Consumer Protection stood on written testimony, and a committee member raised a question about whether creators of remains would have to hold them indefinitely if family members did not respond; the member indicated language would be fixed to address that issue. No vote was taken. House Bill 208, dealing with liquor law changes, drew strong support from Scarlet Honolulu and Maui Brewing Company, who said the measure would modernize liquor rules and add guardrails, while the Wine Institute and Anheuser-Busch opposed it as a special tax break or unnecessary expansion of liquor-related authority. Members questioned whether anonymous complaints should be allowed and whether the bill could lead to retaliation; the supporter said complaints should not be anonymous and suggested the Liquor Commission had been accused of writing complaints to target licenses. No action was taken. House Bill 939, concerning taxation of low-ABV spirits-based beverages, received support from Maui Brewing Company and Johnson Brothers, who said it would align tax treatment with existing categories and reduce confusion, while the Wine Institute and Anheuser-Busch opposed it as a narrow tax break that could reduce revenue and should instead be considered in a broader alcohol tax review. House Bill 808, on construction defect insurance or related protections for state projects, drew comments from DAGS, the State Procurement Office, and the Subcontractors Association, with the latter warning it would make state contracting harder and shrink the contractor base; the chair questioned what recourse the state has when defects appear after a project is completed. House Bill 809, addressing procurement and subcontractor-listing corrections, drew opposition from SPO, DAGS, and the Subcontractors Association, while the General Contractors Association supported it; members debated whether a 24-hour correction window would create abuse or simply allow minor ministerial fixes, and the bill’s sponsor said the goal was to reduce bid protests and procurement discretion. No votes or final committee actions were recorded in the excerpt.
MA
MA

Massachusetts 2025-2026 Regular Session

Senate Session (Full Formal with Calendar) Jul 23rd, 2026

Massachusetts Senate Floor Meeting

Transcript Highlights:
  • It authorizes financial institutions to temporarily delay suspicious transactions.
  • It authorizes financial institutions to temporarily delay suspicious transactions when there is reasonable
Summary: The Senate considered a large number of amendments to an economic development bill and adopted them one by one, with repeated brief recesses as members finalized language. Early amendments made permanent the option for hybrid public meetings and added procedures for alleged open meeting law violations, authorized speed camera enforcement in school and construction safety zones, and created a retirement credit option for part-time teachers who reduced hours to care for children. Other adopted amendments updated gateway municipality designations every three years, capped ticket resale prices and banned speculative “ghost tickets,” and addressed vulnerable road users, crumbling concrete, and a fund for seasonal communities housing. Members also approved amendments to create a new framework for responding to crimes against women, including better investigation of staged suicides and adding sex and gender to the hate crimes statute; to establish a trigger law protecting private-sector labor organizing rights if federal labor law is weakened; to create a bottom-up “Enough Act” fund to fight poverty; to allow airport restaurants and bars at Logan to operate during flight hours; and to protect seniors and adults with disabilities from financial scams by allowing temporary delays of suspicious transactions and reporting to protective agencies. Additional housing-related amendments were adopted for rural communities, residential PACE financing, and a five-community tenant opportunity to purchase pilot program. A Senate Ways and Means amendment was then adopted, the substitute draft was applied to the underlying bill, and the bill was ordered to a third reading and then passed to be engrossed. The chamber also adopted an order to reconvene the following Monday at 11 a.m. and to dispense with printing a calendar. The Senate then adjourned.
MN
MN

Minnesota 2025-2026 Regular Session

House Fraud Prevention and State Agency Oversight Policy Committee 1/21/26

Fraud Prevention and State Agency Oversight Policy

Transcript Highlights:
  • ,</c> partners to complete their transactions, partners to complete their transactions, correct<00:24
  • Office of Grants Management, is not resourced to take this over or to even verify compliance on a transaction-by-transaction
  • </c><01:25:40.240><c> by</c><01:25:40.360><c> transaction</c><01:25:41.200><c> basis,</c> on a transaction
  • by transaction basis, on a transaction by transaction basis, as<01:25:42.320><c> authorized</c><01:25
  • c> is</c><01:31:05.560><c> under</c> If the suspicious actor is under If the suspicious actor is under
Committee: House Fraud Prevention and State Agency Oversight Policy
ID
ID

Idaho 2026 Regular Session

Mar 9th, 2026

Judiciary and Rules

Transcript Highlights:
  • put something on the books so that if the investigator at an accident sees something that looks suspicious
  • put something on the book so that if the investigator at an accident sees something that looks suspicious
  • we're looking for here are bad actors, people that are making a living off doing these types of transactions
  • we're looking for here are bad actors, people that are making a living off doing these types of transactions
  • looking for here are bad actors, people that are making, um, a living off doing these type of, uh, transactions
Committee: Senate Judiciary and Rules
WA
WA

Washington 2025-2026 Regular Session

House Consumer Protection & Business Dec 5th, 2025

Transcript Highlights:
  • They did an analysis of those transactions over a five-month period.
  • They found that they are charging a 20% to 30% fee for every transaction.
  • But 93% of those transactions were fraudulent.
  • These are not people executing real transactions.
  • Those transactions are considered authorized.
Summary: The committee began with a work session on the Joint Legislative Audit and Review Committee’s cannabis market study, presented by JLARC staff member Susanna Pratt. The report found Washington’s cannabis production in 2023 was likely two to three times higher than retail sales, with production estimated at 292,000 to 443,000 pounds of THC versus 139,000 pounds sold. Pratt explained that canopy data are inconsistent and that the Liquor and Cannabis Board’s traceability system is incomplete and unreliable, limiting data-driven regulation, tax verification, recall tracking, and diversion enforcement. JLARC recommended that LCB submit a plan by the end of 2025 for obtaining accurate licensee data by the end of 2026; LCB partially concurred and said a 2027 timeline may be more realistic. JLARC also concluded that the social equity producer licenses would likely have only a minimal effect on statewide production capacity, and suggested the legislature consider broader ways to increase equity in the industry. Members asked about the slow issuance of social equity licenses and about comparable traceability systems in other states. The committee then heard a series of presentations on fraud and scam prevention. Paul Benda of the American Bankers Association described the scale of fraud losses, the role of telecom spoofing, social media scam ads, SIM farms, and crypto ATMs, and argued for a shared-responsibility approach involving banks, telecoms, and platforms. Katie Clark of IQ Credit Union described member-to-member fraud, romance scams, and the operational and financial impacts on credit unions, and recommended better information sharing, safe harbors for returning scam-related funds, and stronger fraud education. Kyle Innes of SIFMA highlighted investor fraud and Washington’s 2009 report-and-hold law, which he said helped shape similar protections in most states, and emphasized the need for better communication among financial firms, APS, and law enforcement. Brian Gerard and Ali Higgs from the Department of Financial Institutions discussed “pig butchering” and other investment scams, focusing on how scammers build trust through social media, dating apps, fake websites, and crypto schemes before extracting funds. Across the fraud presentations, witnesses repeatedly stressed consumer education, interagency information sharing, and stronger controls on telecom, social media, and crypto ATM activity. Members asked about model laws from other states, the role of financial education in schools, and whether crypto ATMs should be regulated or banned. No votes or formal committee actions were taken during the meeting.
HI
HI

Hawaii 2025 Regular Session

CPC Info Briefing - Wed Dec 3, 2025 @ 10:00 AM HST

Hawaii House Floor Meeting

Transcript Highlights:
  • </c> or walk you through what a transaction or walk you through what a transaction would<00:52:20.559
  • So, we have to file suspicious activity reports just like banks do for transactions over $2,000.
  • And then we file currency transaction reports for transactions over $10,000, just like banks do.
  • </c> believe if it if it's a bank transaction believe if it if it's a bank transaction that<01:30:17.600
  • was performed as well as the timing of your transaction that you performed the transaction.
Summary: The committee held an informational briefing on fraud in the community, with presenters from ARP, CoinFlip, HPD, the Hawaii Bankers Association, DCCA’s Office of Consumer Protection, and the Department of Law Enforcement. The chair described widespread scams targeting kupuna and other residents, including impersonation of grandchildren, lottery/inheritance schemes, romance scams, online shopping fraud, investment scams, and tech-support scams. Members emphasized the emotional manipulation used by scammers, the difficulty of getting victims to report losses, and the need to educate the public on warning signs and available resources. ARP said scams are an epidemic and highlighted national data showing major losses among older adults, including $4.8 billion lost by people age 60 and over in 2024. ARP focused especially on cryptocurrency kiosks as a growing scam channel in Hawaii, citing 64 complaints totaling $922,000 in 2024 and noting that complaints nearly doubled from the prior year. ARP urged stronger safeguards such as limits on transactions, refunds, live customer support, and a law-enforcement contact for operators, and said its Fraud Watch Network can help victims freeze credit, identify next steps, and track current scams. The chair said he intends to introduce legislation to lower and ultimately eliminate the amount of Bitcoin that can be purchased through ATMs. CoinFlip said it supports consumer-protection regulation and described its compliance practices, including scam warning screens, anti-money-laundering controls, blockchain analytics, wallet pinning, transaction monitoring, and cooperation with law enforcement. The company said it is registered as a money services business, files suspicious activity and currency transaction reports, and holds money transmitter licenses in many jurisdictions. It also pointed to Illinois-style refund protections for new users and said it refunds fees to scam victims, though not the underlying funds. In response to committee questions, members and the company discussed whether crypto kiosks are necessary, how scams can be traced, and whether banks and kiosks can better intervene when suspicious activity is detected.