Sen. Rick Scott Wages War on Scammers Amid Nationwide Fraud Crackdown

WASHINGTON, D.C - Amid President Trump's broader federal efforts to fight fraud, U.S Senator Rick Scott is calling on Congress to pass a series of bills aimed at scammers who defraud and exploit Americans.

Senator Rick Scott said, "Whether it's in the form of phone calls or sophisticated cybercrime, scammers are running rampant through our country. Criminals are weaponizing new technologies like artificial intelligence to swindle Americans out of their life savings. These criminals must be stopped and held accountable. These bills will go a long way to turn the tide on the scam epidemic. These are all commonsense solutions to a glaring problem; let's get to work."

These bills include:

• Strengthening Targeting of Organized Predatory Scammers (STOP Scammers) Act
• • Directs the Secretary of the Treasury to identify and designate foreign entities engaged in financial fraud against U.S. citizens as 'Foreign Financial Threat Organizations.' Once designated, these organizations would be subject to asset freezes and restrictions similar to those imposed on global terrorist groups.
• Secure America's Finance Exchanges (SAFE) Act
• • Requires the SEC to implement specific disclosure requirements for Chinese-based companies seeking access into U.S.-based Exchanges through Initial Public Offering (IPOs).
• Trusted Foreign Auditing Act
• • Requires Chinese companies to use independent auditors not controlled by the Communist Party to protect U.S. investors and capital.
• ReportScams.gov Act
• • Creates the first centralized online hub for Americans to report scams and get assistance after being targeted by fraudsters.

BACKGROUND:

As Chairman of the Special Committee on Aging, Senator Rick Scott issued an annual fraud report, detailing how scams, many leveraging artificial intelligence, have cost seniors over $4.8 billion in 2024 alone. In response, Senator Rick Scott and his colleagues sent a letter to Secretary of State Marco Rubio, Secretary of the Treasury Scott Bessent, and U.S. Secret Service Director Sean Curran encouraging their agencies to prioritize coordinated efforts to dismantle any and all foreign networks behind international financial scams.

Reporting scams and fraud has become increasingly complicated, as there is currently no comprehensive strategy by the federal government to prevent and curb the massive rates of cybercrime and fraud. Instead, fraud reports are spread across 13 different agencies, leaving victims without a clear path to assistance and unsure of next steps.

Senator Rick Scott has been at the forefront of holding Communist China accountable for exploiting U.S. financial markets and protecting investors from bad CCP-linked actors. In April 2025, he released a bill package targeted at closing sanction loopholes and implementing disclosure requirements to keep Americans' dollars out of the hands of Communist China.

###