Recently, a member of our GHP Investment Advisors (GHPIA) team received a telephone call with “Denver Police” displayed on the caller ID. The caller identified himself as a law enforcement officer and explained that our colleague had failed to appear for jury duty, resulting in a warrant for his arrest. He asked whether our colleague had a pen and paper available to write down the information and instructed him to move to a quiet room where they could speak without interruption. The caller’s authoritative manner, combined with what appeared to be a legitimate telephone number, made the conversation particularly convincing.
The call was part of a jury duty scam, in which fraudsters impersonate law enforcement officers to obtain money or personal information. The caller’s approach was carefully designed to establish credibility and create a sense of urgency, making it easy to understand how someone could be caught off guard.
Members of our own GHPIA team, as well as our clients, have experienced scams, and we know how easily someone can be caught off guard. These experiences have reinforced the importance of having someone you trust to turn to when something goes wrong.
How Much Money Are Americans Losing to Scams?
People around the world ask ChatGPT whether something is a scam more than 200 times per second. According to the Federal Trade Commission (FTC), Americans reported losing $15.9 billion to fraud in 2025, approximately 25% more than in 2024. These figures underscore the prevalence of fraud and its growing financial impact.
Scammers have become increasingly sophisticated, using personal information, manipulated telephone numbers and convincing documentation to impersonate financial institutions, government agencies and trusted individuals. Even people who are careful with their finances and personal information can be deceived.
What Should You Do If You Have Been Scammed?
If you have been scammed, acting promptly may help protect your accounts and limit further losses. The appropriate response will depend on what happened, but there are several important steps to consider.
Contact the financial institution involved. If money has been transferred or financial information disclosed, notify the institution immediately using a verified telephone number. Ask whether the transaction can be stopped or recalled and what additional safeguards may be necessary.
Protect your personal information. Change compromised passwords and review your account security. Depending on the information disclosed, consider placing a fraud alert or freezing your credit.
Preserve records and report the incident. Save relevant emails, text messages and transaction confirmations. Fraud can be reported to the Federal Trade Commission and, for internet-related crimes, the FBI’s Internet Crime Complaint Center. If your identity has been compromised, IdentityTheft.gov provides guidance on protecting your personal information.
You should not delay contacting the affected financial institution while waiting to speak with GHPIA. However, we encourage you to involve us early so we can help determine whether other financial matters require attention.
How Can a Financial Advisor Help After a Scam?
A financial advisor can help you assess whether your accounts are at risk, coordinate with financial institutions and identify steps to protect your assets. At GHPIA, we can also help you report the fraud and explore whether any stolen funds may be recoverable.
We recognize that discussing a scam may be uncomfortable, particularly when money has been lost. You may question your judgment or feel embarrassed about what happened. Please do not let those concerns prevent you from telling us. Members of our own team have experienced scams, and we understand how convincing these situations can be.
Depending on the circumstances, we can help determine whether your financial accounts are at risk, contact the institutions involved and coordinate the steps needed to protect your assets. We can also help you report the fraud and explore whether any stolen funds can be recovered.
Our relationships with clients are built on trust, and we want you to feel comfortable involving us when something unexpected affects your finances. If you have been scammed, please contact GHPIA. We are here to help you work through it together.
Top Row L to R: Brad Engle, Mike Sullivan, Sebrina Ivey, Christian Lewton, Jason Kitner
Bottom Row L to R: Carin Wagner, Angela Kennedy Lee, Jenny Merges, Brian Friedman, Deirdre Mcguire, Barbara Terrazas, Reed McCoy