Sen. Rick Scott is calling on Congress to pass a series of bills to crack down on scammers who deceive and exploit Americans, including older adults, who are increasingly targeted by phone scams, cybercrime, and artificial intelligence.
Scott said the bill is part of a broader effort to combat fraud and hold criminals accountable.
“Our country is rife with scammers, whether it’s over the phone or through sophisticated cybercrime,” Scott said. “Criminals are weaponizing new technologies like artificial intelligence to defraud Americans of their savings. We must stop them and hold them accountable. These bills will go a long way toward turning the tide on this fraud epidemic. They’re all common-sense solutions to obvious problems. Let’s get to work.”
The package includes the Organized Predatory Scammers Targeting Enhancement Act, which directs the U.S. Treasury Department to identify and designate foreign entities that engage in financial fraud against Americans as “foreign financial threat organizations.” Once designated, these organizations would face asset freezes and restrictions similar to those imposed on global terrorist groups.
Scott also supports the Secure American Financial Exchanges Act (SAFE Act), which would require the Securities and Exchange Commission to implement certain disclosure requirements for China-based companies seeking access to U.S. exchanges through initial public offerings.
Another bill, the Credible Foreign Audit Act, would require Chinese companies to use independent auditors not under the control of the Communist Party. Supporters say the measure is aimed at protecting American investors and capital from companies with ties to the Chinese Communist Party.
The package also includes the ReportScams.gov Act, which would create a central online hub for Americans to report scams and receive assistance after being targeted by scammers.
Scott, who chairs the U.S. Senate Select Committee on Aging, recently released his annual fraud report, which found that seniors will lose more than $4.8 billion in fraud in 2024. Many of these scams involved artificial intelligence, Scott’s office said.
Mr. Scott and other members of Congress also sent a letter to Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and U.S. Secret Service Director Sean Curran, urging federal agencies to coordinate efforts to dismantle foreign networks behind international financial fraud.
Scott’s office said reporting fraud and abuse remains complex because reports now span 13 federal agencies, leaving many victims with no clear path to help.
Florida Republicans are also focusing on financial threats related to China. In April 2025, Scott announced a package of legislation aimed at closing sanctions loopholes and creating new disclosure requirements to keep the dollar away from companies with ties to communist China.
