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NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division, along with other state securities regulators, announce that a multi-million dollar agreement has been reached with GSB Gold Standard Corporation AG, a company based in Germany that operates in the fintech and banking industries, and GSB Gold Standard Bank LTD, more commonly known as “GS Partners.” The settlement also names Josip Heit, the principal and Chairman of the Board of GS Partners, and other affiliated organizations that are often collectively known as the “GSB Group.” 

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (“TDCI”) Division of Securities is alerting consumers about the prevalence of spoofing and phishing scams being used by cybercriminals to target unsuspecting Tennessee investors.

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Division of Securities encourages investors to learn the red flags about mobile investment app scams before they make an investment or share any of their personal information.

NASHVILLE - The Tennessee Department of Commerce & Insurance’s (“TDCI”) Securities Division is warning Tennessee consumers about the growing prevalence of so-called “imposter scams” and sharing tips on how investors can protect themselves from losing their personal information or hard-earned money.

NASHVILLE – Ahead of World Elder Abuse Awareness Day (Saturday, June 15, 2024) the Tennessee Department of Commerce & Insurance (“TDCI”) Division of Securities is highlighting the importance of learning the red flags that might indicate elder financial abuse or fraud when it comes to investing unregulated products such as cryptocurrency and any “virtual” investments.

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (“TDCI”) Securities Division and the Tennessee Attorney General’s Office recently won court approval to freeze the bank accounts and financial assets related to a group of Memphis-based individuals who allegedly engaged in fraudulent activity and acted as unregistered broker-dealers and investment advisers, in addition to allegedly committing other violations of state securities law and other Tennessee laws protecting consumers.

NASHVILLE – Securities regulators have seen a rise in schemes where scammers target victims with the promise of making big returns by trading “other people’s money.”

NASHVILLE – The Tennessee Department of Commerce & Insurance (TDCI) encourages Volunteer State investors to utilize TDCI’s Division of Securities many investor education resources during National Financial Capability Month, which runs throughout April, and throughout the year.

NASHVILLE – Scammers, identity thieves, and fraudsters cheated Tennesseans out of a reported $133.6 million of their hard-earned money in 2023, landing Tennessee as the state with the 16th highest rate of fraud in the United States.

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (“TDCI”) Division of Securities is warning Tennessee consumers about the prevalence of so-called "Pig Butchering" scams.

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (“TDCI”) Securities Division and the Tennessee Attorney General are highlighting Identity Theft Awareness Week (Jan. 29 - Feb. 2, 2024) to help Tennessee consumers avoid identity thieves’ tricks and traps.

NASHVILLE – The Tennessee Department of Commerce and Insurance’s (TDCI) Securities Division announces a new requirement that streamlines the registration process for qualifying private fund advisers doing business in Tennessee.

NASHVILLE – Fraud costs organizations worldwide an estimated five percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (“ACFE”). Occupational Fraud 2022: A Report to the Nations analyzed 2,110 occupational fraud cases that caused a total loss of more than $3.6 billion.

NASHVILLE – Tennessee Department of Commerce & Insurance (“TDCI”) Assistant Commissioner Elizabeth Bowling was recently elected by her peers to join the Board of Directors for the North American Securities Administrators Association (“NASAA”), the oldest international organization devoted to investor protection.

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (“TDCI”) Securities Division is among 30 state regulators and the Commodity Futures Trading Commission (CFTC) participating in a settlement with a precious metals dealer and its owner for operating a nationwide $68 million fraudulent scheme targeting elderly and retirement-aged persons.