From Straight Arrow · · 1m 10s
Americans lose billions to scams yearly
New law aims to help scam victims recover stolen money.
In brief
New law aims to help scam victims recover stolen money. Congress passes ReportScams.gov Act to create centralized scam reporting portal for victims. Originally reported by Straight Arrow.
Scam losses hit billions
Americans lost more than $260 billion to fraud last year alone.
Recovery efforts lag
FTC returned $1.83 billion in fraud relief in fiscal year 2025.
FBI returns less
FBI returned more than $336 million to scam victims in 2025.
Scam victims report gaps
75% of scam victims didn’t report losses because they didn’t think it would help recover money.
Gallup finds government ineffective
82% of American adults say government isn’t doing enough to prevent scams.
ReportScams.gov Act proposed
Congress passes bipartisan ReportScams.gov Act to create centralized scam reporting portal.
Scam networks operate globally
Scammers exploit gaps between public and private sector entities across borders.
Need for unified strategy
U.S. lacks coherent whole-of-government strategy to combat scams.
Next steps for victims
Centralized portal helps victims report scams and seek financial recovery.
The essence
Congress passes ReportScams.gov Act to create centralized scam reporting portal for victims.
