04/07/2026
California Bankers Association appreciates Attorney General Bonta’s leadership in addressing the rise in investment scams on various social media and digital platforms.
Banks are seeing these schemes evolve quickly, with increasingly sophisticated tactics targeting consumers. Financial institutions work every day to detect fraud, intervene when possible, and help protect customers before they lose their savings, stopping billions of dollars in attempted fraud each year.
As these threats grow more complex, stronger coordination between banks, law enforcement, policymakers, and technology platforms will be critical to staying ahead of bad actors.
If an investment seems too good to be true, it probably is OAKLAND — Attorney General Rob Bonta today issued an alert warning Californians about the prevalence of fraudulent investment scams across Meta platforms, including on Facebook, Instagram, and WhatsApp, as well as on other online platforms...