Chairman Rick Scott has introduced the Strengthening Targeting of Organized Predatory Scammers (STOP Scammers) Act, aimed at addressing international fraud schemes that target older Americans. The proposed legislation instructs the Secretary of the Treasury to identify and designate foreign organizations involved in financial fraud against U.S. citizens as ‘Foreign Financial Threat Organizations.’ These groups would then face asset freezes and restrictions similar to those applied to global terrorist entities. The bill also seeks to block foreign scammers from contacting Americans through phone calls, internet, or email. Congressman Jefferson Shreve is sponsoring a companion bill in the House of Representatives.
The introduction of this bill comes after the Senate Aging Committee released its annual Fraud Report, which found that scams—many using artificial intelligence—cost seniors more than $4.8 billion in 2024. In response to these findings, Chairman Scott and other lawmakers sent a letter urging Secretary of State Marco Rubio, Secretary of the Treasury Scott Bessent, and U.S. Secret Service Director Sean Curran to coordinate efforts across agencies to disrupt foreign scam networks targeting Americans.
Chairman Rick Scott stated: “Our seniors are being relentlessly targeted by organized, international scams, many of which are run by foreign entities stealing billions from hardworking Americans every year. With my STOP Scammers Act, we’re giving the Treasury Department the tools it needs to go on offense: blocking assets, shutting down access to U.S. networks, and cutting off the communication pipelines these criminals exploit. I am fully committed to standing up for our aging community who have contributed so much to our country and deserve to enjoy their golden years in peace and financial security. Fraud prevention isn’t just a financial issue, it’s a matter of national security and dignity for older Americans. Through efforts like National Slam the Scam Day, our fraud hotline, and now this legislation, we’re building a stronger, smarter defense against fraud to shut these operations down and ensure our seniors are no longer easy targets.”
Senator Scott is also leading another piece of legislation known as the GUARD Act in an effort to address similar concerns about fraud targeting senior citizens.
