How to freeze out scammers

Summary

Podcast Summary: Marketplace Morning Report

Episode: How to freeze out scammers
Date: April 9, 2026
Host: David Brancaccio
Special Guest: Shannon Miller, Elder Law Attorney

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Episode Overview

This episode spotlights innovative legal efforts in Florida aimed at protecting older Americans from financial scammers, especially focusing on new laws and legal tools that allow authorities and families to “freeze out” scammers before irreversible losses occur. Host David Brancaccio interviews elder law attorney Shannon Miller, who shares firsthand stories and details of these legal mechanisms, with a special emphasis on cases involving both traditional and cryptocurrency scams.

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Key Discussion Points and Insights

1. Update on U.S. Inflation Trends

• [01:01-01:58]
  • The Federal Reserve’s preferred inflation measure saw a 0.4% increase in February and a 2.8% annual rise—higher than economists would like.
  • Economist Diane Swonk points out that momentum in inflation (3-month and 6-month annualized trends) is accelerating, complicating the Federal Reserve’s decision on interest rates.
    • Quote:

      "The better gauge of momentum is really the three month annualized increase and six month annualized increase...and those are accelerating."
      — Diane Swonk [01:25]

2. Rising Vulnerability to Scams Among Older Adults

• [04:02-04:48]
  • David Brancaccio revisits his ongoing coverage on the financial exploitation of older Americans. He recalls the personal story of a 79-year-old school nurse who lost $200,000 to fraudsters and a separate client who was scammed out of $2 million.
  • Discussion reflects how neurological changes with age can increase risk of exploitation.

3. How Florida’s Legal Tools Work to Freeze Out Scammers

• Case Example:

  • Shannon Miller details a client who lost $2 million over the years. When a further $500,000 was about to be lost via two cashier's checks, the family acted by initiating emergency guardianship. Unfortunately, legal proceedings to stop the transaction were one day too late.
    • Quote:

      "We got the guardianship open. The court orders went over to the bank to stop those monies from being funded...But it was a day too late."
      — Shannon Miller [05:31]

• New Florida Law Innovations:

  • If the scammer is anonymous or located overseas, the law now allows lawyers to serve them via the same medium the scammer used (e.g., text or email), rather than requiring physical addresses for notification.

    • Quote:

      "We are allowed to use the same communication technique that they have been using to communicate with our victim. So in that first case, it would be using the millionaire match text to text them the final order...And of course, they don't show up because they're a scammer."
      — Shannon Miller [06:07]

  • Previously, without knowing the scammer’s identity or address, families were unable to freeze the fraudulent account in time. Now, Florida’s law removes that barrier.

    • Confirmation:

      "The vulnerability under Florida law before was you couldn't freeze the account. But now under the law, you don't need to know who the scammer is specifically."
      — David Brancaccio [07:01]
      "That's right. That's right."
      — Shannon Miller [07:21]

4. New Tools Against Cryptocurrency Scams

• [07:21-08:23]
  • Florida’s Attorney General has begun using federal seizure laws to freeze crypto wallets associated with scams exceeding $10,000. These recovered funds may exceed the victim's total losses and are being redirected as resources to combat further scams and educate the public.
    • Quote:

      "We have been able to use a tool through the Attorney General's office in Florida to find that wallet and freeze the wallet using federal seizure laws...we are actually recovering more than the value of the victim's claim..."
      — Shannon Miller [07:21]

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Notable Quotes and Memorable Moments

• On the frustration of acting too late:

  "But it was a day too late."
  — Shannon Miller [06:01]

• On the creative use of communication channels for legal notice:

  "We are allowed to use the same communication technique that they have been using to communicate with our victim..."
  — Shannon Miller [06:07]

• On the expanded impact of crypto seizures:

  "...monies that are also in that wallet...then becomes resources...to find scammers and also educate the public..."
  — Shannon Miller [07:21]

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Important Timestamps

• 01:01 – Inflation update and economic context
• 04:02 – The rising risk of financial exploitation for elders
• 05:12 – Interview with elder law attorney Shannon Miller
• 05:31 – Case study: $2 million scam, efforts to block further losses
• 06:07 – Description of Florida’s new legal process to freeze scam accounts
• 07:21 – New crypto scam-fighting tool through Florida’s Attorney General
• 08:23 – Episode conclusion and where to learn more

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Tone & Style

David Brancaccio provides a journalist’s clarity and compassion, emphasizing vigilance and public awareness. Shannon Miller’s comments are direct, pragmatic, and informed by real-world legal experience.

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Additional Resources Mentioned

• Brains and Losses (Marketplace special) — Stories and advice for protecting oneself and loved ones from financial exploitation: marketplace.org

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This episode is essential listening for families, financial caretakers, and anyone concerned with elder justice, highlighting practical new tools to halt scammers before more victims suffer.

Transcript

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[David Brancaccio]

Florida's pioneering laws to stop scammers who prey on older people I'm David Brancaccio in Los Angeles. First, the Federal Reserve's preferred measure of inflation remained elevated. It went up 4. 10 of a percent in February. The report also shows prices went up 2.8% in a year. Higher inflation than economists see as healthy. Diane Swonk is chief economist at kpmg.

[Diane Swonk]

The better gauge of momentum is really the three month annualized increase and six month annualized increase because this is momentum that the Fed is watching closely and those are accelerating. We also saw the largest increase in core goods prices. That's stripping out food and energy that we've seen since the onset of the pandemic inflation in early 2022. So this is all very hard for the Federal Reserve which is weighing whether or not its next move will be up instead of down on rates.

[David Brancaccio]

This isn't the consumer price index, but the one derived from personal consumption data. The CPI for March comes out tomorrow.

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[David Brancaccio]

as we age, our brains may physically change in a way that makes some but not all of us more vulnerable to financial exploitation. In 2019, here I did a deep dive into a subject that we called brains and losses. And as part of that 18 month investigation, I spent time with a school nurse still working then at age 79, who'd lost $200,000 to fraudsters who kept calling her phones, including the call that came in while I was at her home with my recording equipment.

[Shannon Miller]

Say it again.

[Diane Swonk]

$2.2 million.

[Shannon Miller]

That's very nice. Where did I get the other point two from?

[Diane Swonk]

Because your money was sitting at the Federal Reserve Bank. So Drew, in the.

[David Brancaccio]

Yeah. Over my years here, we've stayed focused on financial exploitation of older Americans. Today, let's return to one of the voices in that Brains and losses project to get us up to date on an innovative approach at the state level to freeze out scammers in mid swindle. We're joined from Florida by elder law attorney Shannon Miller with another representative case. Shannon, good to hear your voice.

[Shannon Miller]

Hi, David. Thank you for having me back.

[Puerto Rico Economic Development Representative]

Great.

[David Brancaccio]

To reconnect, you had a client and she'd lost $2 million over several years. Her relatives were trying to stop it. You were trying to stop it. And then there was the chance that she was gonna lose another half million. But that was complicated. Trying to stop that. What happened?

[Shannon Miller]

So what happened was these two cashiers, checks were ready to be issued from the bank and they had been paused by the bank. The Suns were notified and the sons immediately opened an emergency guardianship here in Florida to try and shut these monies down. We got the guardianship open. The court orders went over to the bank to stop those monies from being funded. Through these cashier checks. But it was a day too late.

[David Brancaccio]

But now there is a new, new law in Florida that would help with this.

[Shannon Miller]

What Florida created a couple of years ago was this new process related to scams where if we don't know who that person is because they're not real, what we're able to do is we go into court and instead of the police officer knocking on their door to serve them with notice of the hearing, we are allowed to use the same communication technique that they have been using to communicate with our victim. So in that first case, it would be using the millionaire match text to text them the final order that says, hey, you need to show up for this hearing to explain why you should be able to keep these assets. And of course, they don't show up because they're a scammer. And, you know, they also don't show up normally to assert that the bank account that has now been frozen is actually their money or legitimate money.

[David Brancaccio]

You know, as I found in my reporting, sometimes it's a call in the night from you don't even know what time zone. You have no idea who they are or the address. The vulnerability under Florida law before was you couldn't freeze the account. But now under the law, you don't need to know who the scammer is specifically.

[Shannon Miller]

That's right. That's right. And let me just add another layer. The latest tool that we've been using in Florida relates to a crypto scam that exceeds $10,000. So if someone has given cryptocurrency to someone and that scammer places the funds in a wallet, we have been able to use a tool through the Attorney General's office in Florida to find that wallet and freeze the wallet using federal seizure laws. And so what is happening is we are actually recovering more than the value of the victim's claim because the monies that are also in that wallet, that then becomes resources after a certain time period passes, where the Attorney General's office can then turn that into tools that we can use to find scammers and also to educate the public about some of these issues that exist.

[David Brancaccio]

Shannon Miller at the Miller Elder Law Firm based in Gainesville, Florida. Thank you.

[Shannon Miller]

Thank you so much, David.

[David Brancaccio]

If you click over to marketplace.org, our one hour special, Brains and Losses is still streamable with stories and tips for protecting ourselves and our loved ones. Now, we've been revisiting some of the coverage from my 13 years hosting the Marketplace Morning report here. My last day as host is tomorrow as I shift to a new role here still at Marketplace. I'm excited to tell you I will be our special correspondent covering future effects focused on decisions now that shape our economic futures. I think we can agree short term thinking is the cause of so many of our challenges. But how to fix it? That will be on the case in Los Angeles. I'm David Brancaccio from APM American Public Media. Hey, David Brancaccio here. I hope you're well and that your passport is up to date because I am hosting a trip to Italy this fall and you, you are invited stay at a world class Tuscan villa and step into the world of the Medici, the formidable family whose influence and power helped give rise to the Renaissance and the art we still celebrate today, not to mention the banking system. We're going to visit the world's oldest bank, swim in the thermal spa waters in Montecatini and take in the art of the Uffizi. All of this. And then we'll try to put it all into context with great conversation over even better meals and wine tasting. Please join me and know this. Buying into this trip will provide essential support for Public Media. Discover more about this fall's tuscany [e-mail] travel to reserve your spot today, that's marketplace.org travel.