Would it surprise you to learn that more people in their 20s reported losing money to scammers last year than people in their 70s?
It’s easy to assume that the digital natives who don’t remember a time before the internet and smart phones would be more immune to financial scams and frauds, but that’s not the case.
According to the Federal Trade Commission (FTC), 44% of people who reported fraud in 2024 were between ages 20 and 29.
What habits put young people at risk? For starters, they’re more likely to use social media, messaging apps, and gaming platforms that are the favorite hunting grounds of so many cyberthieves.
It’s easy to assume that digital natives would be more immune to financial scams and frauds, but that’s not the case.
TIPS TO HELP “SCAM PROOF” YOUNG PEOPLE IN YOUR LIFE
✔ Pause before you pay : If someone asks for money urgently— especially via gift cards, wire transfers, or cryptocurrency—it’s almost always a scam.
✔ Verify before you trust: Whether it’s a job offer, influencer giveaway, or scholarship, do a quick search. Real opportunities don’t require upfront fees or sensitive info.
✔ Use all available tools to keep a careful eye on bank account activity. Report suspicious transactions immediately.
Younger generations are also less experienced with financial red flags than older people. This is one area where grey hair (and years of experience) can be helpful. The top scams reported by young people include impersonator scams, job offer scams, and cryptocurrency investment scams.
You can reach out to the young people in your life to help them get better at recognizing and avoiding these scenarios. The tips in the center bear repeating.
by TODD ADAMS chief executive officer
AI adds a new layer. As the use of artificial intelligence (AI) rises in scams and frauds, all generations will need to become more educated on how it is being used and stay on guard.
Voice cloning scams: It’s good to be aware that AI tools can mimic voices very accurately.
Scammers are using short audio clips—often pulled from social media—to impersonate loved ones in family emergency scams, tricking victims into sending money.
Generative AI and phishin g: Spelling and grammar errors used to make phishing emails easier to spot. However, the FTC warns that AI-written phishing emails are becoming much more polished and harder to detect. This can make pitches for romance scams and fake crypto coin schemes more convincing.
Scammers work hard at perfecting schemes to trap and fleece victims of all ages.
Don’t let your guard down and get caught in their web of deception and loss.
SCAN for more fraud detection tips. Remember, if you receive a text message regarding potential card fraud, it will always come from our official card fraud 5-digit number: 37268 . Delete text messages from other numbers and report it as phishing.
BANK LOCALINVEST IN YOUR COMMUNITY
As a trusted partner in your community for five generations, Adams Bank & Trust is invested in its success—and yours.
When you bank with us, your deposits stay in your area, going to work and creating opportunities for local goals and needs.
You’re supporting everything from the Little League team and FFA chapter to new and existing local businesses. You’re improving the overall quality of life where you live.
KERRI ANDERSON svp - retail banking
Senior Vice-President of retail banking Kerri Anderson specializes in educating customers about a wide range of saving options.
“There is an ideal way for every one of our customers to save money. Committing to saving is so empowering. Seeing people make that connection inspires us every day.”
Kerri says, “There is an ideal way for every one of our customers to save money. Committing to saving is so empowering. Seeing people make that connection inspires us every day.”
When you bank with us, your deposits stay in your area, going to work and creating opportunities for local goals and needs.
How can every generation of your family benefit from a full banking relationship with us? Our entire team can’t wait to tell you.
Kerri Anderson is a great example of a banker who can help you find
by STEVE KRAUSE president
the right products, services, and tools. From checking and savings accounts to CD laddering and FDIC insurance on large deposits through IntraFi, we offer solutions for the full spectrum of needs.
Whether you’re approaching retirement or just starting your financial journey, there’s nothing like a personal connection with bankers who truly care what’s happening in your life and in your community.
From savings accounts to HSAs and IRAs there are savings options for every customer of every age.
A simple plan may begin with a savings account and build to the option of Certificates of Deposits.
Kerri says, “Laddering CDs is a strategy that we’ve seen people use to stabilize their finances in all rate environments and really take charge of their financial future.”
Among other opportunities for financial growth, the bank currently offers a 30 Month Upgrade CD* with the ability to add money and increase their rate up to two times during the 30-month term.
For some customers, FDIC coverage for large balances is their biggest concern.
“This includes consumers, businesses, public entities, or non-profits,” Kerri says. “Because we are a member of the IntraFi Network, we can connect you to the ICS (Insured Cash Sweep) program. Then you have access
to full FDIC coverage above the standard $250,000 limit for your liquid funds.”
ICS partners well with CDARS (Certificate of Deposit Account Registry Service), a termed money account the bank can offer through the IntraFi Network.
Kerri says there are similar advantages to both products, “Both ICS and CDARS let you enjoy the convenience of one rate, one statement, and one banking relationship with a bank you trust.”
Knowing these funds remain in the community is an added benefit.
“When you bank here,” Kerri says, “your money stays here. It’s available for the bank to lend to growing businesses and community projects, helping every part of your hometown thrive.”
As the bank continues to grow, we appreciate the talented employees we are able to have on our team. We want to recognize these employees who have recently celebrated milestone anniversaries.
Each quarter we will recognize employees by showing their years of service, photo, title/position, office location, and hire date.
CASH
Cash in our vault, plus cash on demand from other banks where funds are deposited. $ 106,917,628
GOVERNMENT AND AGENCY BONDS
Marketable investments in bonds and other securities of the U.S. Government and its agencies. 312,199,715
FEDERAL FUNDS SOLD
Funds loaned to other banks for daily cash needs and payable on demand. 0 LOANS AND LEASES
Total of all money loaned to customers for all types of loans, such as agriculture, commercial and consumer. 863,782,740
BUILDINGS, FURNITURE AND FIXTURES
Book value (after depreciation) of buildings, computers, equipments, etc. 16,874,077
OTHER ASSETS
Interest on loans earned but not collected, expenses that have been prepaid, etc. 24,233,488
TOTAL ASSETS 1,324,007,648
DEPOSITS
Money on deposit by customers of the bank in the form of checking accounts, savings accounts, and certificates of deposit. 1,086,960,784
OTHER LIABILITIES
Borrowings by the bank, interest on deposits that has accrued, payable at a future date, other expenses accrued but not yet paid, deferred taxes, etc. 54,550,842
CAPITAL
Par value of the investment of the stockholders for the purchase of stock. 41,000,000
SURPLUS
Additional money contributed by stockholders to provide extra financial strength. 17,000,000
UNDIVIDED PROFITS AND RESERVES
Bank earnings left in the bank to provide added strength to meet possible future losses on loans and to replace buildings and equipment as they wear out. 124,496.022
TOTAL CAPITAL ACCOUNTS
Total capital available for the safe operation of Adams Bank & Trust. 182,496,022
TOTAL LIABILITIES AND CAPITAL ASSETS 1,324,007,648
RAYMOND JAMES FINANCIAL SERVICES, INC. MEMBER FINRA/SIPC
3 IMPORTANT POINTS ABOUT CRYPTOCURRENCY
Cryptocurrency has come a long way in the past decade and a half. When it first emerged, it was seen by many as a fad or novelty. It’s still in its early days as an asset class. But increasingly, cryptocurrency is being viewed as more of a mainstream asset.
The underlying technology also has huge implications for nearly all aspects of our lives in the future. We’ll likely continue to see its use spread into broader applications.
As financial advisors, we are often asked, “Does cryptocurrency make sense for me? Should I be adding it to my investment portfolio?”
Before
you take that step, here is some important information to consider.
As financial advisors, we are often asked, “Does cryptocurrency make sense for me? Should I be adding it to my investment portfolio?” Before you take that step, here is some important information to consider.
What is cryptocurrency? It is a relatively new digital currency that’s an alternative to the US dollar and other traditional currencies. Created in 2009, Bitcoin is the largest and oldest cryptocurrency.
All cryptocurrency transactions are recorded as blocks on the blockchain , which is like a giant digital ledger that’s shared across a network of computers. Once each
by JACOB HOVENDICK rjfs branch manager
block is full of verified transactions, it’s locked and linked to the previous block, forming a chain. What else is the technology used for? Blockchain’s potential goes far beyond crypto portfolios and investing. Behind the scenes, it’s reshaping how information is shared, verified, and protected across many industries. Blockchain is being used in everything from healthcare to supply chain and logistics.
APPROACHING CRYPTO INVESTING:
✔
Be aware of cryptocurrency risks.
✔ Understand what you own and why.
✔ Be willing to keep learning and set limits.
1. What are some of the risks? Because cryptocurrency functions in a unique way, it poses some unique risks. Currently, there is no unified regulatory framework. Stocks are heavily regulated by established financial authorities, who provide transparent reporting and oversight. But regulation for cryptocurrency is still evolving in the United States and across the world, which can create uncertainty for investors.
Crypto assets can be stolen and lost. This can occur through hacks and fraudulent activity. Investors may also lose access to their assets forever if they transfer them off an exchange and then forget the intricate password or recovery phrase needed to retrieve
Adams Bank & Trust is not a registered broker/dealer, and is independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC, are not insured by bank insurance, the FDIC or other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc.
them. One way cryptocurrency has tried to mitigate some of these issues is through the purchase of cryptocurrency using a more traditional avenue like an exchange-traded fund (ETF).
A cryptocurrency’s worth depends on investor belief, not business performance. Unlike traditional investments like stocks and bonds—which are tied to earnings, assets, or cash flows—a crypto asset like Bitcoin has no built-in value.
There are wilder swings in the cryptocurrency market, making it a more volatile investment. Because prices can fluctuate unpredictably, significant gains or losses can occur in a short period. As the graph in the upper right corner shows, Bitcoin had more large price drops in 2024 than stocks had in 2008.
Many factors contribute to volatility. Unlike traditional markets, cryptocurrencies can be traded 24/7. Because these markets never close, prices are driven up and down by 24/7 global news cycles and social media.
2. As with any investment, it’s important to know what you’re owning and why. Looking through the lens of your investment timeline and tolerance for risk, what purpose would cryptocurrency serve? It should only be incorporated if it makes sense for the big picture of why you invest.
Cryptocurrency gets a lot of attention, and FOMO (fear of missing out) is a real phenomenon. Make sure you’re striving to make decisions based on logic rather than emotions.
Bitcoin Buls Say
Bitcoin belongs to the people; it can’t be manipulated by central banks that devalue their currencies by printing more money
once the final supply of Bitcoin is mined
3. Be willing to keep learning and set appropriate limits. As an asset class, cryptocurrency is not suitable for every investor or every purpose in a portfolio. Your financial professional can help you decide if it’s appropriate for you.
President Donald Trump has suggested creating a strategic Bitcoin reserve; this would boost demand, especially if other countries follow suit
If wealthy individuals and institutions allocate 2-3% of their portfolios to Bitcoin for diversification, the demand will soar
Exchange-traded funds and other investments focused on cryptocurrencies could provide demand and liquidity to Bitcoin
It’s wise not to be overallocated, but owning a small amount of cryptocurrency could be a learning experience. You don’t want to lose sight of the risks involved or start chasing reward in the short term. As with stocks, taking a long-term approach can be a one way to ride out volatility over time.
2008 STOCKS
a combination of curiosity and caution. Thorough research, strong security practices, a clear understanding of your risk tolerance, and careful attention to tax obligations are essential for navigating the complexities of digital assets.
2008 STOCKS
Bitcoin Bears Say
Bitcoin has no intrinsic value; it could potentially lose all its value and become worthless
A better cryptocurrency could come along, which would decrease the value of Bitcoin
Bitcoin’s price is highly volatile, so creating a Bitcoin reserve could create significant economic instability, both domestically and globally
A handful of people currently own a large portion of Bitcoin; they could quickly devalue it if they decide to unwind their positions
The UK banned sales of certain crypto-derivative products to retail investors; this highlights the regulatory risks that could put downward pressure on Bitcoin’s price
Your financial professional can help you decide if cryptocurrency is right for you.
Consider how any cryptocurrency investment fits into your broader, diversified financial strategy.
Important Risks: Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit or protect against a loss in a declining market.
This material is not intended to be relied upon as a forecast, research, or investment advice, and is not a recommendation, offer, or solicitation to buy or sell any securities, or to adopt any investment strategy.
As an investor, it’s crucial to approach this asset class with
Always remember to invest only what you can comfortably afford to lose. Consider how any cryptocurrency investment fits into your broader, diversified financial strategy.
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Opinions expressed are those of the author and are subject to change. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation. The material is general in nature. Investing involves risk; investors may incur a profit or loss regardless of the strategy or strategies employed. There is no assurance that any investment strategy will ultimately meet its objectives. Past performance may not be indicative of future results. Asset allocation and diversification do not guarantee a profit nor protect against a loss. Working with a financial professional does not ensure a favorable outcome.
For assistance in reviewing or creating your investment plan, please call any Adams Bank & Trust office or call toll free at 800.422.3488 for an appointment with a Raymond James Investment Representative.
Jacob Hovendick , RJFS Financial Advisor and Branch Manager Khara Martinosky, RJFS Financial Advisor
FIGURE 1: Bitcoin Had More Large Price Drops in 2024
