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.

In response to this growing threat, the resolution calls for a review of existing laws and policies in West Virginia, as well as an examination of how other states are addressing similar issues. The committee is tasked with developing recommendations for potential legislation aimed at preventing, intervening in, and recovering from financial fraud. Specific areas of focus include controlling telephone solicitations, deterring the use of cryptocurrency kiosks in scams, ensuring victim restitution, and protecting property ownership from deed fraud. The resolution also stipulates that the costs associated with the study and report preparation will be covered by legislative appropriations.