July 2024

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Peer-to-peer payment scams are on the rise

Use Venmo or PayPal? Learn how to protect yourself from peer-to-peer (P2P) scams. 

EVENTS

Explore a new topic every month through our consumer financial education webinars and attend in-person community events each week.

Upcoming Community Events

Protecting Your Personal Data

August 7, 3 – 4 p.m. | Virtual

Join this free webinar to learn about your data privacy rights and the importance of data security. Discover how you can minimize your digital footprint and find out who data brokers are and how they sell your data. Register online.

Scam Stopper Seminar with Asm. Alex Lee (AD24) 

1 – 3 p.m.

San Jose

Senior Briefing with Congresswoman Nanette Barragan (CA44)

9 a.m. – 2 p.m.

Carson

Protect Yourself from Fraud Presentation 

10:30 – 11:30 a.m.

Rolling Hills Estates

For more events happening in your community, visit our Events Calendar.

NEWS & UPDATES

• AARP/DFPI Scam Chat Wednesdays – Join us and AARP once again for this popular webinar series that covers trending scams and fraud. A new topic covered each week in August – don’t miss it.

CONSUMER ALERTS & ENFORCEMENT ACTIONS

The latest on financial scams and fraud and the actions we're taking to protect Californians.

• DFPI Revokes License of Synapse Credit – We issued an order revoking the California Financing Law license of San Francisco-based Synapse Credit LLC (Synapse Credit). Its parent company Synapse Financial Technologies, Inc. filed for Chapter 11 bankruptcy in April, which began a chain of events that left thousands of consumers without access to their funds. 
• Silvergate Bank settlement – We announced a consent order imposing a joint $63 million penalty, including a $20 million payment to DFPI, against La Jolla-based Silvergate Bank and its holding company for violations of the federal Bank Secrecy Act and state anti-money laundering requirements. 
• Cyberattack on Patelco Credit Union – Patelco Credit Union was subjected to a ransomware attack on June 29. Patelco branch offices and its call center are open to provide member services. 
• Fraudulent Investment Advisor Websites: bluelawnassetmangement.com and blassetmanagement.com – We received information that these imposter websites are fraudulently posing as Blue Lawn Asset Management LLC, a California licensed Investment Adviser. 

A strong password to protect your accounts is not enough to stay safe. For additional protection, the Federal Trade Commission recommends two-factor authentication. Spend a few minutes now to learn about two-factor authentication and how to enable it – and save yourself from having to recover a hacked account later.