Chairman Schweikert's Panel 1 Remarks | JEC Hearing on "The Rising Global Scam Economy"

Joint Economic Committee · March 25, 2026

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Chair frames the central question: prevent money leaving victims' accounts

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The Chair opened by asking how to build a model, technology or policy that ensures money "never leaves the individual's account," framing the hearing around preventing irrevocable transfers to scammers and recovering funds after the fact.

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A Joint Economic Committee hearing explored ways to stop scams that drain older Americans' accounts, focusing on technology that blocks scam communications and payment flows, industry cooperation, education, and existing frameworks such as STIR/SHAKEN and the Stop Senior Scams Act.

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