Rising Global Scam Economy: Modernizing Federal Approaches to Protect U.S. from Foreign Fraudsters

Joint Economic Committee · March 25, 2026

0:00/0m

0:00

Opening remarks and framing of the problem

Presentation

1:31 → 2:44(1m 12s)

Senator opening remarks (speaker identifying herself as a sponsor of the hearing) framed scams as an urgent economic threat affecting retirees and families, described a constituent whose mother lost $80,000 to an impersonation scam, and previewed a bipartisan bill to create a single national reporting portal and a federal strategy to hold scammers accountable.

Keywords:

Speakers:

A Joint Economic Committee hearing where federal law-enforcement and consumer-protection officials warned that industrial-scale scam operations—often tied to Southeast Asia and enabled by AI and cryptocurrency—are inflicting billions in annual losses; lawmakers pressed for a governmentwide strategy, a single reporting portal, stronger industry cooperation, and legal fixes to seize and return assets to victims.

AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Transcript

Unlock the transcript with a paid subscription