Bill > HCR99

This resolution requests the Joint Standing Committee on the Judiciary to conduct a comprehensive study on preventing financial fraud and scams in West Virginia, in response to the growing threat of sophisticated fraud schemes facilitated by advanced technologies like artificial intelligence. The study aims to address the significant financial impact of fraud, noting that over 8,000 West Virginians were victims of scams resulting in $27 million in losses in 2024, and the Federal Trade Commission reported $12.5 billion in consumer losses nationwide. The committee will review existing state laws, examine national approaches to fraud prevention, and develop recommendations for potential legislation focusing on four key areas: controlling telephone solicitations, deterring cryptocurrency kiosk fraud, ensuring victim restitution, and protecting property owners against deed fraud. The committee is required to report its findings and recommendations to the West Virginia Legislature, Governor's Office, and Attorney General's office by December 31, 2025, with the study's expenses to be paid from legislative appropriations. The resolution recognizes the increasing sophistication of fraud schemes, particularly those involving organized crime rings and emerging technologies, and seeks to provide comprehensive strategies to protect consumers and businesses.

http://www.wvlegislature.gov/Bill_Status/Resolution_History.cfm?year=2025&sessiontype=RS&input4=99&billtype=CR&houseorig=H&btype=res