Referred to the Committee on the Judiciary, and in addition to the Committees on Energy and Commerce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Stop SCAMS Act directs the FBI, Consumer Financial Protection Bureau, and Federal Trade Commission to coordinate a government-wide effort to combat consumer scams. Within one year of enactment, these agencies must develop a unified anti-scam strategy, adopt a single definition of what constitutes a scam, and standardize how they collect data on scam incidents and losses. Within two years, they must produce a comprehensive government estimate of how many consumers are affected by scams annually (including unreported incidents) and the total dollar losses involved. The bill also requires each agency to report their own scam complaint numbers and dollar losses, establish metrics to measure the effectiveness of their anti-scam training programs, and make their findings publicly available. The legislation affects consumers defrauded by scams and the federal agencies responsible for investigating fraud, but does not specify new funding amounts or appropriations to support these efforts.
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