STOP Scammers Act

The STOP Scammers Act directs the Treasury Secretary to identify and designate foreign organizations that commit fraud against U.S. citizens or lawful permanent residents as "Foreign Financial Threat Organizations." Once designated, U.S. financial institutions must freeze the organizations' assets, and the Treasury can block their contact with U.S. individuals via phone, internet, or email. The law requires annual reports to Congress detailing designations, assets seized, and funds returned to victims. This targets organized fraud through financial restrictions and transparency, affecting foreign fraud entities and requiring U.S. financial institutions to comply.