Bill > HR4936

This bill establishes the Task Force for Recognizing and Averting Payment Scams (TRAPS), a comprehensive multi-agency initiative designed to combat increasingly sophisticated digital payment fraud. The Task Force will be chaired by the Secretary of the Treasury and include representatives from numerous federal agencies, financial institutions, credit unions, digital payment networks, consumer groups, and victim support networks. Its primary objectives include examining current payment scam trends, developing prevention strategies, and creating consumer education programs to help people identify and avoid fraud. The Task Force will evaluate best practices for combating scam methods like spoofed calls and malicious websites, assess international prevention approaches, and coordinate efforts to help law enforcement identify and pursue scammers. Within one year of establishment, the Task Force must submit a detailed public report to congressional committees outlining its findings, recommended strategies, potential legislative changes, and suggestions for improving inter-agency cooperation in investigating financial crimes. The Task Force will operate for three years, meeting at least three times annually, and will serve without additional compensation beyond participants' regular government salaries. Members will represent a diverse range of perspectives to ensure a comprehensive approach to understanding and mitigating payment scams across various sectors.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/4936/all-info