The resolution requests the Joint Standing Committee on the Judiciary to conduct a comprehensive study on financial fraud and scams affecting West Virginians, with a report due by December 31, 2025. The resolution highlights the alarming rise in financial fraud, noting that over 8,000 West Virginians fell victim to scams in 2024, resulting in significant financial losses. It emphasizes the sophistication of fraud schemes, particularly those utilizing advanced technologies, and the detrimental impact of organized crime on consumers and financial institutions.

The committee is tasked with reviewing existing laws and policies in West Virginia and examining responses from other states to develop recommendations aimed at combating financial fraud. Proposed areas of focus include enhancing protections against telephone solicitations, addressing the misuse of cryptocurrency kiosks in scams, ensuring restitution for fraud victims, and protecting property ownership from deed fraud. The resolution also stipulates that the necessary expenses for the study and report preparation will be covered by legislative appropriations to the Joint Committee on Government and Finance.