Bill to Allow Freezing Foreign Scammers’ Assets Becomes Bicameral
Sen. Rick Scott, R-Fla., introduced a companion bill Aug. 1 to House legislation that would require the Treasury Department to designate foreign entities that run large-scale scams on Americans as Foreign Financial Threat Organizations (see 2506020044). The Strengthening Targeting of…
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Organized Predatory Scammers Act, or the Stop Scammers Act, would authorize Treasury to freeze the assets of such organizations. Scott’s bill was referred to the Senate Banking Committee.