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 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.