STOP Scammers Act

The STOP Scammers Act would require the Secretary of the Treasury to designate certain foreign entities that commit fraudulent schemes targeting U.S. citizens or permanent residents as “Foreign Financial Threat Organizations.” Once designated, these organizations could face asset freezes, be treated with penalties similar to those for designated terrorist organizations, and have their ability to access U.S. financial systems and communications restricted. The bill also authorizes targeted actions to disrupt these groups’ cybersecurity, internet, and cellular access, and prohibits them from contacting U.S. persons by phone, internet, or email. Designations would follow an explicit notification and publication process, and Congress would be kept informed through ongoing reporting. The designation framework relies on a formal definition of a “covered organization” and requires joint determination by the Treasury Secretary and the Attorney General. Intended to deter and disrupt foreign scammers, the bill aims to cut off funding, communications, and contact channels used by fraudulent actors while increasing transparency through annual (and biennial) reports to Congress. The approach blends financial sanctions with cybersecurity and communications restrictions, expanding the toolkit beyond traditional fraud prevention to include aggressive enforcement measures.