Featured News and Updates
Press Release
DFPI Reaches Agreement with Failed Money Transmitter Sigue Corp., Affected Customers Can Now File Claims for Full Refunds
The DFPI has reached an agreement with Southern California-based money transmitter Sigue Corporation for failure to meet outstanding liabilities following its collapse in 2024.
Consumer Insights
Pig butchering - how to spot and report the scam
Apr 15, 2025
Pig butchering is an investment scam where fraudsters gain the trust of victims over time and then deceive them into investing in fake cryptocurrency or another fraudulent investment opportunity. The term refers to the agricultural practice of fattening pigs before slaughter, symbolizing how scammers "fatten" their victims with false attention before exploiting them financially.
Alerts
Advisory to Small Businesses: Speak Up About Merchant Cash Advances
Apr 14, 2025
The DFPI wants to hear from small businesses that may have fallen prey to unfair, deceptive, or abusive practices in connection with a financial product known as a merchant cash advance (MCA).
Alerts
Fraudulent Use of WhatsApp Number Claiming to Represent Wealthmark Advisory Group, LLC
Apr 11, 2025
The DFPI has received information that the WhatsApp number (609) 381-7323 is being used fraudulently to pose as a licensed investment adviser.
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Industry Updates
Important Notices
Proclamation of an Extraordinary Situation – DFPI Proclamation – 1/8/25
Jan 8, 2025
WHEREAS on January 7, 2025, Governor Gavin Newsom proclaimed that a state of emergency did then exist in Los Angeles and Ventura Counties of California due to extreme fire and windstorm conditions; and
Press Release
DFPI Strengthens Partnership with CA Department of Justice to Stop Crypto Scams and Prevent Consumer Financial Loss
Mar 10, 2025
The DFPI announced today that through its nationally-recognized Crypto Scam Tracker and a new partnership with the California Department of Justice (DOJ), the state has shut down more than 26 different crypto scam websites and uncovered $4.6 million in consumer losses.
Press Release
DFPI Secures Settlement with GSPartners, Urges CA Clients to Submit Refund Claims by May 22
Feb 20, 2025
The DFPI announced today it has reached a settlement with a group of affiliated entities, collectively known as GSPartners, and its owner and chairman, Josip Heit.
Monthly Bulletin
Monthly Bulletin – April 2025
Apr 14, 2025
- Notice of Proposed Rulemaking – Money Transmission Act / Digital Financial Assets Law
- Sigue Money Transmitter Settlement
- California celebrates 175th birthday
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