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California hearing urges prevention-focused overhaul as scams drain residents' savings
Summary
At a Little Hoover Commission hearing, legislators, victims and experts urged preventative policies, better cross-sector coordination and new legal tools to curb rising financial fraud losses in California.
The Little Hoover Commission on Thursday heard from legislators, victims, prosecutors and technology and consumer regulators who said California needs a prevention-first response to rapidly escalating financial fraud.
Senator Timothy Grayson told commissioners the Legislature asked the commission to study scams after staff analysis showed California has lost staggering sums: “By one estimate, Californians have lost more than $3,000,000,000 to financial scams since 2020,” he said, and national figures show internet‑enabled losses rising from about $3.5 billion in 2019 to roughly $16 billion in 2024. Grayson and witnesses warned AI and other technologies are making scams faster and more convincing.
Experts recommended three broad strategies. Ken Westbrook, founder of the Stop Scams Alliance and a former intelligence analyst, urged a national‑style prevention playbook that focuses on (1) clear strategy and authority, (2) data fusion so public and private…
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