Bill > S2670

This bill, known as the STOP Scammers Act (Strengthening Targeting of Organized Predatory Scammers Act), empowers the Secretary of the Treasury to designate certain foreign organizations as "Foreign Financial Threat Organizations" if they engage in fraudulent activities targeting U.S. citizens or permanent residents. The bill requires the Secretary to make the first such designation within 90 days of enactment and follow a specific notification process that includes alerting congressional leaders and relevant committees before publishing the designation in the Federal Register. Once designated, these organizations can have their assets frozen by U.S. financial institutions, face penalties similar to those applied to terrorist organizations, and be subject to federal actions that limit their access to internet and cellular services. The bill also prohibits these organizations from contacting U.S. citizens or permanent residents through phone, internet, or email. The Treasury Secretary must submit biannual reports to congressional committees detailing the organizations designated, assets seized, identification actions taken, and funds returned to fraud victims. A public version of the report will be made available, excluding sensitive information. The bill defines "covered organizations" as foreign entities that attempt to deceive U.S. citizens or permanent residents into providing cash or assets through fraudulent means.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2670/all-info